VTB has expanded the use of Big Data for the development of its office network
When making decisions about opening additional offices and choosing new locations, VTB uses the results of the analysis of anonymized geo-data and their subsequent processing by machine learning methods. The corresponding geo-analytical platform is an internal development of the bank.
The analysis uses data on trading activity, the average cost of housing in cities, the density of people living and working in different districts of cities and other data points.. It was possible to combine a wide range of anonymized data thanks to a single specialized geo-grid developed by bank specialists to solve analytical problems.
The application of machine learning methods to a wide data perimeter make it possible to forecast the demand for certain banking services in various city districts. According to the results the demand for savings products, in particular, is concentrated in the city centre, and the demand for credit and transaction products may be higher in residential areas.
Thus, a centralized geo-analytical platform allows you to systematically solve the problem of optimal placement of the bank’s infrastructure.
"The application of analysis and processing by machine learning methods of anonymized big data in the modern world is one of the main tools used to develop companies in almost all fields. The models created on the basis of big data help make banking services more convenient for customers and allows banks to more accurately offer different services and products. Working with big data is one of the most important areas of VTB’s development as part of a strategy that involves the transformation of the bank on a new digital basis, "said Vadim Kulik, Deputy President and Chairman of the Management Board of VTB.