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April 25, 2017
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Danske Bank’s Journey Towards Actionable Insight

Danske Bank, headquartered in Copenhagen, is the largest bank in Denmark. It’s also one of the major retail banks in the northern European region, with over 5 million retail customers. Danske Bank is leveraging Hortonworks for actionable intelligence to help minimize risk and maximize opportunities.

Three weeks ago, at the DataWorks Summit in Munich, we announced the Data Hero winners for the EMEA region. There were nine Finalists, all with compelling business use cases. One of the Data Visionary Finalists was Nadeem Gulzar, Head of Advanced Analytics & Architecture at Danske Bank.

As a whole, the Financial Services industry is experiencing rapid transformation. Banks and capital markets companies are using Hortonworks DataFlow (HDF), powered by Apache™ NiFi, to ingest a rapidly increasing volume and variety of data into Hortonworks Data Platform (HDP), powered by Apache Hadoop®. Through analysis of both data-at-rest and data-in-motion, banks and capital markets are leveraging actionable intelligence to minimize risks and maximize opportunities.

Dankse Bank leverages HDP to manage and derive actionable insights from its structured, clickstream, geo-location, and server log data. Combined with advanced analytics frameworks, Danske Bank has unparalleled and unprecedented access to its core transaction data. It even analyzes that data as it streams in, enabling the bank to improve service to its robust clientele. Danske Bank can now provide early warning on potentially fraudulent activity to its customers, and has also reduced false positives by 90%. It has also improved marketing communications, with a 62% response rate on initial communication and a doubling of its sales conversation rates.

Check out the video below from the recent DataWorks Summit in Munich, courtesy of SiliconANGLE and theCube.


 

One of the most inspiring aspects of Danske Bank’s Big Data journey is how it implemented Connected Data Platforms while also navigating the complexities of EU Banking Regulations and the Danish Data Privacy Act. Through HDP’s security and data governance, Danske Bank has met all necessary requirements and maintains full lineage of their mission-critical data.

Danske Bank is now looking to improve its process for replenishing ATMs by moving away from schedules, which will both improve customer experience and the safety of its armored cars.

You can read more about Nadeem Gulzar and Danske Bank’s Big Data use case in this SiliconAngle article.

To learn more about how Hortonworks is helping to minimize risk and maximize opportunity in the Financial Services industry, visit the website!

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