JPMorgan mining 'big data' to detect fraud risk, FT says

theflyonthewall.com

JPMorgan (JPM) is employing the type of "big data" mining technology used in counter-terrorism to identify potential fraud risk among its traders and to tackle other business problems, reported Financial Times. The bank's chief information officer, Guy Chiarello, said it was using the technology in “a couple of dozen projects” that promised to have a significant effect on its business, though would not give further details, the report noted.

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