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Using Big Data technologies for banks’ debt collection function

Journal: Business Education in the Knowledge Economy (Vol.2, No. 1)

Publication Date:

Authors : ;

Page : 33-36

Keywords : big data; contact information; banks; debt collection; bank’s reserves;

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This article provides an example of application Big Data into banks debt collection function. Firstly, the article describes basic characteristics of Big Data and technologies used in that. Secondly, the article gives understanding of banks' debt collection function and why banks need to make reserves on unpaid debts. Finally, the article shows how Big Data can help to find contact information of those clients who don't pay debt. Moreover, the article highlights economical effect of using accurate contact information for debt collection. As a result actual contact information allows bank to make contacts with clients and collect debts. It all leads to minimizing unpaid debts as well as reserves on them.

Last modified: 2017-10-06 12:40:53