Big Data Analytics to Predict Customer Behavior for Personalized Banking Services

In response to today's dynamic business and competitive nature, many banks in India are providing online banking to increase the customer's satisfaction and maximize profit. In online banking system the bank has a centralized database that is web-enabled and provides online services who utilizes various Information and Communication channels for customer's interaction. As customer interactions in banking move from in-person to digital channels, you not only have to react faster; you must also be able to predict future behavior which is very useful to achieve better operational efficiency and create a new product market. It is possible by using high end predictive analytics and Big Data analytics is a better solution. This paper represents overview, current scenario, challenges and importance of big data and big data analytics in banking sector to forecast its future scenario. We have reviewed various articles and research papers in the relative field, covering the most interesting and the advanced topics on Big Data, Big Data mining, big data analytics and banking.