Reuters reports EU banks are trying to catch up to big tech companies in the monetization of the data they collect. JPMorgan, HSBC and Barclays are among those trying to close the gap by using tactics such as extracting and analyzing data for stock predictions, marketing partnerships and expedited credit decisions. “We are now seeing some amazing uses of data in banking, and the reason is pretty simple: they know their clients better than anyone, they have a name and address, information about what you’re buying and once you have those you can do so much,” Accenture Head of Data Monetization Craig Macdonald said. statements.
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