Big data analytics has the potential to head off the sort of triggers that led to the global financial crisis, according to Commonwealth Bank's chief information officer, Michael Harte.
Speaking at the SAS Forum in Sydney yesterday, Harte said: "[before] the last financial crisis we pushed a whole lot of products on people that they didn't need and couldn't afford."
Harte said that US banks had written mortgages, then had them insured, securitised [and] triple-A rated, and [then] sold by someone else. "That broke the relationship between the instrument being traded and...
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