The banking sector has grown by leaps and bounds in operations and service delivery. This industry is responsible for generating huge amounts of data, but carrying so much information that banks have failed to properly utilize this information from their databases. Big Data will play a crucial role towards the development of this sector through the following goals and objectives: Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an original essay Big Data comprises a very large system, but its main task is to create easy working conditions for employees. It will also help the bank solve their problems without affecting their customers. Furthermore, the data will be useful to provide an idea of ​​the spending structure, ensuring the bank that its customers do not overspend. This will allow the bank to constantly monitor customer transaction behaviors in real time, allowing them to provide the kind of resources their customers need. This real-time assessment will increase the overall profitability of banks. Current databases are not sufficiently capable of handling transaction traffic at a much faster pace and if this information needs to be processed, moving to Big Data is the only option. With the help of Big Data, banks will be able to recognize their customers based on various parameters such as services, credit card spending, etc. This will help banks target their customers more efficiently based on customers' tailored needs. Now that customer segmentation has been done, banks know correctly which audience to target based on their personalized product offerings can be offered to that sector of people by analyzing past and present expenses and transactions. Creating personalized product offerings will fill an untapped niche of personalized services that gives banks the ability to create more meaningful customer relationships. Big Data identifies and presents Big Data on a single large scale which makes it easier to reduce the number of risks on a global level. manageable number and plays a key role in integrating banks' requirements into a centralized and functional platform. This reduces banks' chances of losing data or overlooking fraud. By adopting Big Data, the banking industry will be able to better understand customer needs, so they can provide those services in a timely manner. The task of implementing Big Data at scale is just taking shape, with many IT departments concerned about the transition to a high-tech IT infrastructure. The banking sector has remained untouched for several years and security issues are always a priority in this sector as it involves the circulation of a lot of personal and confidential information which needs to be protected at every stage. Please note: this is just an example. Get a custom paper now from our expert writers. Get a Custom Essay Big Data can be beneficial for both customers and banks: no unauthorized transactions will be carried out, and the increased levels of safety and security will automatically raise the security standard of the entire industry. Cloud big data-based analytics packages can synchronize in real time with your big data systems, creating actionable insights dynamically. Big Data will expand the banking industry in a way that allows them to earn more revenue through cost reduction, and by reducing unnecessary costs, the banking industry will be able to provide..