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Unlocking the benefits of unstructured data in banking

October 20, 2020

But the sector wasn’t always as open to embracing new technologies. Until the arrival of challenger banks like Monzo and Starling Bank a little over five years ago, who showed the benefits that taking a digital-first approach could bring, traditional banks failed to adopt the digital transformation at the same speed as other sectors.

While the banking sector has come a long way in its digital journey in recent years, the slow pace of adoption initially has had a knock-on effect on the sector, with other industries now far more advanced in their digital approach. Take healthcare, for example. The industry was an early adopter of nascent technologies and as a result, it is now using ML to help with early detection of diseases like cancer.

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