Navigating Big Data Challenges in Financial Services

Archie Arthur

Archie Arthur Department of Computer Science, University of California

Keywords: Big Data, Financial Services, Data Analytics, Risk Management, Real-time Processing, Regulatory Compliance, Customer Experience, Machine Learning, Cybersecurity, Digital Transformation, Blockchain Technology, Operational Efficiency, Predictive Analytics, Data Governance, Cloud Computing

Abstract

The financial services industry is undergoing a profound transformation driven by the exponential growth of big data. This paper explores the challenges faced by financial institutions in effectively navigating the complexities of big data. From the voluminous data generated by transactions to the velocity of real-time market information and the variety of data sources, financial organizations grapple with multifaceted challenges. The objective is to provide insights into strategies and solutions that enable financial institutions to harness the power of big data for informed decision-making, risk management, and enhanced customer experiences. By examining real-world case studies and industry best practices, this paper offers a comprehensive guide for navigating the intricacies of big data in the context of financial services.