Banks are subject to regulatory requirements that mandate the collection and reporting of loan data. Compliance with regulations such as the Home Mortgage Disclosure Act (HMDA) and the Know Your Customer (KYC) regulations requires data analysis and reporting.
They use data analysis to detect fraudulent loan applications and activities. Unusual patterns, inconsistencies, or discrepancies in loan data.
Data analysis helps banks understand market trends, competitive landscape, and customer demand. This information guides product development and market expansion strategies.
Analysing loan data provides insights into customer behaviour, preferences, and needs. Banks can use these insights to tailor loan products and marketing strategies to specific customer segments.
Navigate tabs (summary, overview, detail) on the left of this dashboard to get insights on loan application. Equally use filters to drill -down on specific measures, loan status, purpose and grade.