Don't Cut Alt Data Spend, HSBC Data Manager Warns

Slashing budgets will lead to inaccuracies as banks turn to alt data for fraud detection and to monitor customer behavior during the coronavirus crisis.

Cutting data costs

Banks should not think of cutting spending on data during the current financial downturn, despite financial pressures, Damaris Barrera, a senior data manager in HSBC’s global banking and markets group, has said. 

Barrera, who was speaking on a WatersTechnology alternative data webinar on May 21, said that banks use alternative data to train business models and artificial intelligence, but that due to pandemic-induced cost pressures, many will be considering cutbacks in their data spend. However

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a WatersTechnology account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: