Review on Use of Data Mining in Focusing Bank Frauds and Enhancing Business
Journal Title: International Journal for Research in Applied Science and Engineering Technology (IJRASET) - Year 2015, Vol 3, Issue 6
Abstract
The purpose of this paper is to give a view on uses of Data Mining in detecting bank frauds or dodgy transactions which can be harmful to bank in future and also to find those transactions which can be useful for bank or may be helpful in business. This paper will also provide an overview of Data Mining concept .With the adoption of new technology as well as changing customer and staff expectations it is challenging for bank to navigate technology strategy alternatives. Data mining is new and powerful technology of extracting useful information from large databases. It helps in improving business decisions, enhance the value of each customer and helpful in customer requirements. An organization can achieve a great advantage over its competitors with Data Mining. The banking sector is not only a small co-operative bank but is a large sector which includes public sector , private sector, foreign banks as well as banking products and services like Credit Card service , Loan service , ATM service.
Authors and Affiliations
Sonia, Anil Arora
Keywords
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