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A Review on the Application & Influence of Big Data in the Financial Institutions

Author

Listed:
  • Mirza Fahim Ahmed

    (Lecturer, Department of Humanities & Business, Khulna University of Engineering & Technology (KUET))

  • Ishter Mahal

    (Associate Professor, Department of Accounting & Information Systems, University of Dhaka)

Abstract

The research explores & elaborates on the application & influence of Big Data on the main areas or functions of various financial institutions, mainly commercial banks. Big Data has become an integral part of modern finance & economy. This study aggregates the main factors associated with the application of Big Data over various financial activities. The research also explores the complexities & constraints of Big Data within the lens of financial activities. The research follows a secondary data collection technique by systematically locating & reviewing academic research focusing on Big Data and finance or banking activities. Ultimately, the study provides a comprehensive overview of the fundamental characteristics of Big Data, its applications in financial institutions, related complexities & potential strategies to minimize the complexities.

Suggested Citation

  • Mirza Fahim Ahmed & Ishter Mahal, 2025. "A Review on the Application & Influence of Big Data in the Financial Institutions," International Journal of Research and Scientific Innovation, International Journal of Research and Scientific Innovation (IJRSI), vol. 12(2), pages 208-229, February.
    • Handle: RePEc:bjc:journl:v:12:y:2025:i:2:p:208-229
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    References listed on IDEAS

    as
    1. Haitham Nobanee & Mehroz Nida Dilshad & Mona Al Dhanhani & Maitha Al Neyadi & Sultan Al Qubaisi & Saeed Al Shamsi, 2021. "Big Data Applications the Banking Sector: A Bibliometric Analysis Approach," SAGE Open, , vol. 11(4), pages 21582440211, December.
    2. Juliane Begenau & Maryam Farboodi & Laura Veldkamp, 2018. "Big Data in Finance and the Growth of Large Firms," Working Papers 18-08, New York University, Leonard N. Stern School of Business, Department of Economics.
    3. Yu, Wantao & Wong, Chee Yew & Chavez, Roberto & Jacobs, Mark A., 2021. "Integrating big data analytics into supply chain finance: The roles of information processing and data-driven culture," International Journal of Production Economics, Elsevier, vol. 236(C).
    4. Juliane Begenau & Laura Veldkamp & Maryam Farboodi, 2018. "Big Data in Finance and the Growth of Large Firms," 2018 Meeting Papers 155, Society for Economic Dynamics.
    5. Begenau, Juliane & Farboodi, Maryam & Veldkamp, Laura, 2018. "Big data in finance and the growth of large firms," Journal of Monetary Economics, Elsevier, vol. 97(C), pages 71-87.
    6. Grazia Dicuonzo & Graziana Galeone & Erika Zappimbulso & Vittorio Dell'Atti, 2019. "Risk Management 4.0: The Role of Big Data Analytics in the Bank Sector," International Journal of Economics and Financial Issues, Econjournals, vol. 9(6), pages 40-47.
    7. Juliane Begenau & Maryam Farboodi & Laura Veldkamp, 2018. "Big Data in Finance and the Growth of Large Firms," NBER Working Papers 24550, National Bureau of Economic Research, Inc.
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