- External Data
Enhancing the value of Enterprise Data by intelligent "mashing" with external/public data
Fintellix Labs is working on aggregating historical data from public sources to help banks with competitive intelligence on financial position and performance.
We are working on a robust external data management engine which would allow to create user defined external data. For example, user can create customized peer sets to compare own bank performance against the selected peer set. The external data module would include both banking industry data and economic data.
With regulatory focus on risk and new upcoming regulations such as expected losses for reserve calculation, the requirement to include external data, both peer and economic would be mandatory. Furthermore, a thin line of differentiation in terms of products and offerings makes it imperative for banks to understand competition and customer needs.