For Jana Small Finance Bank, big data & analytics are playing a major role. The bank uses analytics for Risk and Customer retention around acquisition, collection, retention & cross-sell. A data analytics model is being used for identifying customer behaviour and needs at various stages. This is also helping various departments to make business decisions in accordance with changing risk and opportunity patterns.
Additionally, analytical models for real time monitoring alerts, early warning signals, and propensity score cards for prudent collection strategy.
“At Jana, we have invested in various technologies, infrastructure and tools to drive data analytics and to convert our data into impactful insights. We use data to make our policy decisions which are often driven by post data analytics, these are presented in various internal committees leading to data-led decision making,” said Ashish Gopal Saxena, CIO, Jana Small Finance Bank.