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Recall that United Savings Bank collects information in each of the following systems.Core Banking System Online Banking Lending System (Auto/Personal

Recall that United Savings Bank collects information in each of the following systems.

  • Core Banking System
  • Online Banking
  • Lending System (Auto/Personal Loans)
  • Credit Card System
  • Mortgage Lending System
  • Insurance Policy System
  • Financial Investment System

They are interested in understanding how they can leverage this data, in addition to data gathered from other potential sources, to provide a competitive advantage in their market.

You have been asked to present to the board a discussion on how big data can provide USB with a strategic advantage. This week they are most concerned with how to prevent fraud.

The following is the necessary information to complete this lab assignment.

Create a diagram to show the board how data from these systems could potentially be used to provide a full 360° view of a customer. Show how information in each system could potentially overlap (customer names, addresses, etc.). The 360° degree view of the customer as it is associated with the seven application systems could be a flowchart or could be more creative and look something similar to the following.

Image Description

However, it would include all seven application systems and include the actual fields that are similar in all the systems. However, you can be creative here. MS Visio works well for a diagram (MS Visio is available in Citrix). You can do a print screen of your sketched diagram and then use the paste feature to paste the diagram into your Word document. Another alternative is to draw out your diagram and take a picture that you can send to your email and paste into your Word document.

Step 3: Lab Memo

In a one-page memo, identify what could cause data challenges for the organization given the different systems collecting information, and explain how creating a centralized repository of the most current customer information could be helpful. This would be done on the second page of the MS Word document.

Step 4: Lab Research

Research how financial companies are using big data to prevent fraud, and prepare a one-page memo explaining how one or two strategies could be used and incorporated within USB’s existing business systems. This would typically be the third page of your MS Word Document

Step 5: Complete and Submit Work

Submit a Microsoft Word Document that includes all three steps (2, 3, and 4) listed in this lab assignment.

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