Eastern Bank endeavors to be relationship-driven, not transaction driven. In a digital economy, face-to-face interactions continue to decline. Eastern needs to rely on data integration and analytics to know their customers so they can best meet their evolving needs. Hadoop is the basis of the Bank’s big data store which is used to leverage data the company never thought of as “Customer Data” before. This enables the Bank to go beyond what a customer has with the Bank and giving visibility into what a customer does with the Bank through behavioral analytics.
Founded in 1818 and based in Boston, Eastern Bank is the largest and oldest mutual bank in the country, with $9.5 billion in assets and more than 100 branches serving communities in eastern Massachusetts and southern and coastal New Hampshire. Eastern Bank offers banking, investments and insurance all under one roof, and prides itself on working harder to understand its customers’ needs so it can deliver these services in a committed and personal way. Eastern Bank, which includes Eastern Bank Wealth Management and Eastern Insurance, is a recognized leader in corporate social responsibility and for its advocacy on behalf of a number of social justice causes.
How Eastern Bank Uses Big Data to Better Serve & Protect its Customers