Smart Enterprise Magazine

Volume 8, Number 1, 2014

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Page 17 of 23

C apital One Financial Corp. has more than $207 billion in deposits. All told, it has more than 65 million customer accounts, which are served through a variety of channels—many of them digital. Customers can interact with the company in one of more than 900 branch locations as well as via online tools, websites and mobile apps. They can also reach out using Twitter, online chat or telephone. The company's most recent acquisition of ING Direct—now Capital One 360— makes the financial firm the nation's largest direct bank. And yet the people who work in its innovation labs around the country get to act like they work at a startup, testing Big Data technologies and trying to figure out how they can leverage what they learn to move it into the lines of business and into production. This is part of the company's long history of using Big Data to improve the bottom line, says Rob Alexander, CIO at Capital One. Big Data can also help improve customer experience as well. "We really started out as a company with this whole strategy—we call it our information-based strategy—which is really about how do we leverage data and information," he explains. "Our whole company is wrapped around using data As the world looks to Big Data as a facilitator for everything from marketing and R&D to customer engagement, some early adopters have emerged. | By Karen J. Bannan IMAGE: DAVID DEAL Rob Alexander, CIO at Capitol One 18 SMARTENTERPRISEMAG.COM

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