Data Is Eating the World: Enterprise Edition

HT: ArchiTECHt

Enterprise Innovation:

With its 150-year history, over $2.4 trillion in assets, 37 million customers, and 4,000-strong presence across 70 countries, [HSBC] is an important financial institution in a heavily-regulated industry. “We have to make sure our customers feel confident and trust in us to be the custodian of their assets,” stated Darryl West, Group Chief Information Officer at HSBC, at the recently held Google Cloud Next conference…

“Apart from our $2.4 trillion dollars of assets on our balance sheet, we have at the core of the company a massive asset in [the form of] our data. And what’s been happening in the last three years is a massive growth in the size of our data assets,” shared West, pointing out that data at HSBC has grown tremendously from 56 petabytes in 2014 to over 100 petabytes as of early 2017. “Our customers are adopting digital channels more aggressively and we’re collecting more data about how our customers interact with us. As a bank, we need to work with partners to enable us to understand what’s happening and draw out insights in order for us to run a better business and create some amazing customer experiences,” said West.