How advanced analytics are redefining banking

From McKinsey

"Every single major decision to drive revenue, to control costs, or to mitigate risks can be infused with data and analytics," says Toos Daruvala, a director in McKinsey's New York office.

"[This] will be a differentiator for some period of time." In this video, Daruvala explains how three diverse banks are using analytics to gain an edge in a cutthroat environment—by improving risk assessment and predicting customer behavior.

Read more about how banks are poised to reinvent themselves with data and analytics on McKinsey's site, the latest in our series, "Big data: What's your plan?"