The Working Group Vision:
Over the past decade we have seen the market value of financial institutions fall compared to those of truly data driven organisations (e.g. Google, Amazon, Facebook etc.). We believe this is partly caused by their ability to maximise the value they can generate for their customers by using data to build products and services. To ensure financial institution stay ahead of the curve when using data to improve products and services offered to clients, the SFTI data workgroup will:
a. Identify best practices to be used across the Swiss financial center
b. Explore how business models can evolve thanks to data analytics
c. Deepen the understanding we have in our organisations about the value data analytics can generate for our customers.
The working group "Learning from Data" is dedicated to the potential and analysis of data. What data do we have, what data can we make usable and how can the Swiss financial market benefit from it? This working group was founded in summer 2018 and consists of banks and insurance companies of the SFTI members.