Commercial banks are increasingly worried about competition from fintechs, including online technology companies that expand the range of financial and pre-financial services. Commercial banks are more and more actively using IT technologies of online banking, building Business Intelligence data processing platforms, extending Big Data database systems, developing integrated risk management systems and conducting advertising campaigns on social media websites. In view of the above, large commercial banks have the opportunity to conduct a sentiment analysis on data collected in Big Data database systems for the purpose of analyzing the expectations and opinions of Internet users regarding, for example, financial services. Information obtained from the Internet and processed in the aforementioned manner can be used for more precise risk analysis, credit risk management, planning subsequent advertising campaigns, modifying the financial services offer in line with changing expectations of Internet users, searching for clients on social media portals. In this way, interdisciplinary analytical processes are also developed at commercial banks, for which the information from the websites of social media portals is the source of data.

Do commercial banks have a chance to win in this matter in competition with the fintech technology companies operating on the Internet?

Besides, What is the effectiveness of online advertising campaigns run by commercial banks?

Please, answer, comments.

I invite you to the discussion.