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Leading Indian private sector bank adopts Cloudera Enterprise Data Hub to enhance customer campaigns through secure, real-time big data analytics

MUMBAI, India, 6 July, 2017 Cloudera, Inc., (NYSE: CLDR), the leading provider of the modern platform for machine learning and advanced analytics, announced that YES BANK, one of India’s largest private sector banks, has adopted Cloudera Enterprise Data Hub to develop customized campaigns for consumers throughout their customer journeys. Cloudera Enterprise empowers YES BANK to transform their growing volumes of transactional and customer data from their digital services into clear and actionable insights by using real-time analytics and machine learning.

Banking, Financial Service and Insurance (BFSIs) across the region are struggling to keep pace with the vast amount of customer data that they collect in today’s consumer-centric mobile economy.[1] With Cloudera Enterprise, BFSIs like YES BANK can now mine large volumes of data from financial transactions and create machine learning algorithms to support information-driven business decisions and revenue growth.

Commenting on the development, Anup Purohit, Chief Information Officer at YES BANK, said, “Cloudera Enterprise is now the bedrock of our company’s digital strategy. With its successful track record of working with several other leading BFSIs across the globe, YES BANK decided to deploy a modern platform to provide a differentiated digital experience for our customers through intelligent, real time analytics.”

Today, YES BANK is using big data and analytics to cross-sell and up-sell opportunities for the business, while providing a customized experience for consumers across the bank’s digital channels and identifying and rectifying any inconveniences during the customer journey.

With the growing risk of cyberattacks,[2] BFSIs also recognize the importance of a safe and secure data management platform that is compliant with the latest industry regulations. Cloudera Enterprise enables YES BANK to reduce the cost of compliance in today’s digital age and transform existing processes through machine learning and predictive modelling, eliminating risk and detecting fraud faster and smarter by utilizing massive amounts of data to effectively train their systems.

“BFSIs today are competing to create enhanced products in a world where consumers are demanding the most convenient and customized journeys. As such, business leaders are pressured to keep up with the latest technology solutions to deliver unparalleled experiences for their customers,” said Mark Micallef, vice president of sales, Asia Pacific and Japan region at Cloudera. “Cloudera empowers BFSIs like YES BANK with a scalable and secure data analytics and machine learning platform to use data in ways not possible before and enables organizations to derive business insights for revenue growth, all while maintaining a high standard of security and ensuring compliance to industry regulations.”

 

[1] Exploring Next Generation Financial Services: The Big Data Revolution, Accenture, 2016

[2] Kaspersky Lab Report 2017: New Technologies, New Cyberthreats, Kaspersky, 2017

About YES BANK

YES BANK, India’s fourth largest private sector Bank with a pan India presence across all 29 states and 7 Union Territories of India, headquartered in the Lower Parel Innovation District (LPID) of Mumbai, is the outcome of the professional & entrepreneurial commitment of its Founder Rana Kapoor and its Top Management team, to establish a high quality, customer centric, service driven, private Indian Bank catering to the future businesses of India.

YES BANK has adopted international best practices, the highest standards of service quality and operational excellence, and offers comprehensive banking and financial solutions to all its valued customers.

YES BANK has a knowledge driven approach to banking, and offers a superior customer experience for its retail, corporate and emerging corporate banking clients. YES BANK is steadily evolving as the Professionals’ Bank of India with the long term mission of becoming “INDIA’s FINEST QUALITY BIG BANK by 2020”.

Additional Resources

About Cloudera

Cloudera delivers the modern platform for machine learning and advanced analytics built on the latest open source technologies. The world’s leading organizations trust Cloudera to help solve their most challenging business problems by efficiently capturing, storing, processing and analyzing vast amounts of data. Learn more at cloudera.com.

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Press Contact

Avril Sindhu

Ying Communications for Cloudera

cloudera@yingcomms.com

+65 3157 5632

YES BANK

Swati Singh

+91 9874560033

swati.singh6@yesbank.in