The financial services industry has witnessed considerable hype around data science and machine learning in recent years. However, a quick Google search will confirm that there are very few concrete examples of it being put in practice in large institutions and delivering tangible results.
We strongly believe that data science can add significant value in financial services across multiple functions with high returns on investment. Our content series, Applied Data Science in Financial Services, aims to highlight the common yet painful problems which Capco has solved using advanced analytics techniques.
Our first article focuses on an age-old problem: capacity management. Banks with global operational teams still find it difficult to forecast how much time and resources are required to perform required operational tasks, from back-office trade functions to KYC remediation. In the end, the result is often the same: mad scrambles and massive overtime fees to vendors as deadlines loom and patchy temporary solutions to appease regulators.
We have helped multiple clients solve this problem successfully by applying modern data analytics techniques, reaping significant benefits in short spaces of time.
Here’s our story.