Business Intelligence and Business Process Management in Banking Operations

Success of banking operations is strongly correlated with the quality of customer relations and efficacy of banks processes. Banks seek means for efficient analysis of vast amount of gathered data from their IT systems. They are exploiting business intelligence (BI) technology to analyze every aspect of their data to understand behavior of their clients, striving to satisfy client's needs, in an endless race for a competitive advantage in the market. The intention of this paper is to review and discuss the most significant applications of Business Intelligence in banking as well as point to new technology trends that will affect bank's development.