The importance of Big Data and regulation for insuring the banking sector

Marta Plana Blog

New technologies and changes in user habits prompt banking entities to renewal. To this end, banks have to set sights on the challenge of regulation. It is essential to provide greater security to clients and investors and generate greater trust in our business model, which is still not very well known in Spain.

We need a minimum level of regulation to renew traditional banking and especially maximum transparency for the digital environment. Digital Origin is a reference point regarding innovative concepts in the financial sector, focusing on FINTECH. We consider that there are two key items: technology, which allows us to keep the level of fraud at 0.001%, and big data, which makes it possible to analyse risk control and loans. There are around 250 companies in England which, just like Digital Origin, are dedicated to ‘cash on demand’, whereas in Spain there are just around 20.

The three basic pillars for our company are trust, security and benefits for the end user. These are the principles we work on the ensure the greatest level of transparency in our services.