From the Financial Times: JPMorgan Chase has turned to
technology used for countering terrorism to spot fraud risk among its own
employees and to tackle problems such as deciding how much to charge when
selling property behind troubled mortgages.
The technology involves crunching vast amounts of data to
identify hard-to-detect patterns in markets or individual behavior that could
reveal risks or openings to make money. Other banks are also turning to
"big data", the name given to using large bodies of information, to
identify potential rogue traders who might land them with massive losses,….
Check out http://www.cnbc.com/id/100312595
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