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Case study for banking application

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From: Jason S.
Added: 16.04.2021
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Some time ago, we announced that Yolt Technology Services was chosen as the open banking provider for successful Netherlands-based accounting platform Jortt. Zilverline also made the choice to work with YTS from the available open banking solutions. The open banking connections are available to all new Jortt customers. And soon existing customers will be able to benefit as well. By directly connecting to the bank instead, they get:.
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Banking Application - Case Study

A bank in a private or public institution, which functions in the sphere of finance and offers various loaning and depositing services to people. Banking system appeared in the development of the human civilization with the development of the monetary system. Banks carry out various operations with money with the intention to have high profit. Every bank exists due to the loaning service, that means people and great businessmen who want to improve the quality of their business and invest money into it borrow money from a bank and have to give back bigger sum than they have taken.
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The implementation of Data Science in banking is changing the face of the banking industry rapidly. That will help them to understand the customers for increasing customer loyalty by providing more efficient operational efficiency. The banks are trying to identify patterns in a large amount of available transaction data for interacting efficiently with their customers. With Data Science in banking, Banks utilize the data from customer transactions, previous history, trends, communication, and loyalty. Extracting insights from such a large amount of data is a great challenge because this data is mostly unstructured which is difficult to deal with.
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