Ernst and Young (EY) and the University of Technology Sydney (UTS) have formed a financial services analytics alliance.
EY and UTS have partnered for five years, which will see the organisations collaborate on analytics and data initiatives associated with the financial services industry.
The collaboration will cover areas such as cybercrime, customer interaction and retention and risk, an EY-issued statement said.
EY Oceania financial services leader, Andrew Price, said data management and analytics will create a “significant competitive advantage for businesses and benefits for consumers”.
“By bringing together our research skills and commercial acumen, we hope to develop innovative solutions that will help financial service organisations better understand and use leading-edge technology and analytics practices to gain deeper business, risk and customer insight from the wealth of data available to them,” Mr Price said.
UTS vice chancellor, Attila Brungs, added that research in data analytics is an area of “critical importance”.
The first joint project will be a survey report looking at the level of maturity among the use of analytics in financial services organisations in Australia and New Zealand, the statement said.