Journal of Computer Science 9 (10): 1252-1259, 2013

ISSN: 1549-3636
2013 Science Publications
doi:10.3844/jcssp.2013.1252.1259 Published Online 9 (10) 2013 (http://www.thescipub.com/jcs.toc)

DATA MINING IN BANKING

AND ITS APPLICATIONS-A REVIEW
1

Sreekumar Pulakkazhy and 2R.V.S. Balan

Department of Computer Science and Engineering, Noorul Islam University,

Kumaracoil, Thackalay, Kanyakumari (Dt), Tamil Nadu, India
2
Department of Computer Application, Noorul Islam University, Kumaracoil, Thackalay,
Kanyakumari (Dt), Tamil Nadu, India
Received 2013-01-14, Revised 2013-07-14; Accepted 2013-08-16

ABSTRACT
Banking systems collect huge amounts of data on day to day basis, be it customer information,
transaction details, risk profiles, credit card details, limit and collateral details, compliance and Anti
Money Laundering (AML) related information, trade finance data, SWIFT and telex messages.
Thousands of decisions are taken in a bank daily. These decisions include credit decisions, default
decisions, relationship start up, investment decisions, AML and Illegal financing related. One needs to
depend on various reports and drill down tools provided by the banking systems to arrive at these critical
decisions. But this is a manual process and is error prone and time consuming due to large volume of
transactional and historical data. Interesting patterns and knowledge can be mined from this huge volume
of data that in turn can be used for this decision making process. This article explores and reviews
various data mining techniques that can be applied in banking areas. It provides an overview of data
mining techniques and procedures. It also provides an insight into how these techniques can be used in
banking areas to make the decision making process easier and productive.
Keywords: Data Mining, Banking, Default Detection, Customer Classification, Money Laundering
how, this mountain of data is turning out to be the most
valuable asset of the organization (Tiwari, 2010).
Valuable knowledge and interesting patterns are hidden
in this data. There are huge potential for banks to apply
data mining in their decision making processes in
areas like marketing, credit risk management,
detection of money laundering, liquidity management,
investment banking and detection of fraud
transactions in time Failures in these areas can lead to
unpleasant outcomes for the bank such as losing
customers to competition, financial loss, reputational
loss and hefty fines from the regulators.
Figure 1 shows decision making in conventional
settings. They are mostly done by manual procedures.
Users go through reports generated by banking
information system and use it in their decision making

1. INTRODUCTION
Banking industry has hugely benefited from the
advancements in digital technology (Sing and Tigga,
2012). Concept of data stored at branches has given way
to centralized databases. Number of channels to access
bank accounts has multiplied. Banking systems have
become technically strong and customer oriented with
online transactions, electronic wire transfers, ATM and
cash and cheque deposit machines (Bhambri, 2011). As
number of channels has increased so is the number of
transactions and the related data stored. So currently
banks have huge electronic data repositories in their
computing storage systems. Data has grown in terms of
both dimensionality and size (Kaur and Sing, 2011).
With advancements in data mining techniques and know-

Corresponding Author: Sreekumar Pulakkazhy, Department of Computer Science and Engineering, Noorul Islam University,
Kumaracoil, Thackalay, Kanyakumari (Dt), Tamil Nadu, India
Science Publications

1252

JCS

Sreekumar Pulakkazhy and R.V.S. Balan / Journal of Computer Science 9 (10): 1252-1259, 2013

process. They may also use drill down tools provided by

the system for analyzing data to arrive at critical
decisions. Manual analysis has limitations because
volumes of data that can be manually analyzed are
limited and hence the decisions may not be as accurate as
intended (Bhasin, 2006). For example, it could be
possible that loan installments are being paid regularly
though there is an alarming negative trend in the
customers turnover and the account may be about to
default. These associations are not easy to detect through
manual processes. It is assumed that valuable
information are hidden in this volume of operational and
historic data that can be used for critical decision making
process if they are discovered and put to use by capable
tools (Kazi and Ahmed, 2012). For example, a decision
support system based on data mining techniques can be
employed to improve the quality of lending process in a
bank (Ionita and Ionita, 2011). Figure 2 shows how data
mining can improve decision making process.

Fig. 1. Conventional decision making process

2. DATA MINING AND KNOWLEDGE

DISCOVERY CONCEPTS
Data Mining and Knowledge Discovery is one of
recent developments in line with data management
technologies. It combines the fields of statistics, machine
learning, database management, information science and
visualization. It is an emerging field. Despite this, it is
increasingly being used in the industry as a tool to study
their customers and make smart decisions (Ramageri,
2010). Knowledge discovery from databases is defined
as the process of identifying valid, novel, potentially
useful and ultimately understandable patterns of data.
One of the crucial steps in Knowledge discovery is Data
Mining and often they are used as synonyms (Deshpande
and Thakare, 2010). Data Mining is the process of
discovering valuable information from large data stores to
answer critical business questions. It unveils implicit
relationships, trends, patterns, exceptions and anomalies
that were hidden to human analysis.
In todays highly competitive market environment
customers are spoilt by choices. Banks need to be proactive in analyzing customer preferences and profiles
and tune their products and services accordingly to retain
customer base (Bhambri, 2011). By segmenting
customers into bad customers and good customers, bank
can cut losses before it is too late (Kazi and Ahmed,
2012). By analyzing patterns of transactions, bank can
track fraud transactions before it affects its profitability
(Ogwueleka, 2011). These are highly desirable
capabilities where data mining could help.
Science Publications

Fig. 2. Decision making with data mining

Data mining is the process of deriving knowledge

hidden from large volumes of raw data. The
knowledge must be new, not obvious, must be relevant
and can be applied in the domain where this
knowledge has been obtained.
The logical process flow involved in data mining and
knowledge discovery is shown in Figure 3.
Data mining process can be broken down to the
following iterative sequence of following steps.
1253

JCS

Sreekumar Pulakkazhy and R.V.S. Balan / Journal of Computer Science 9 (10): 1252-1259, 2013

2.4. Data Integration

In a production environment, there could be multiple
databases storing same information. These heterogeneous
data sources are combined in a common source.

2.5. Data Transformation and Data Reduction

Data are transformed or consolidated by performing
summary or aggregation operations so that they are
simpler to handle for the mining operations. Redundant
or highly correlated data items can be dropped out so that
data mining results would be more effective.

2.6. Data Mining

In this crucial step, intelligent data mining techniques
are applied in order to extract data patterns. There could
be many potentially useful patterns depending on the
techniques used which need to be further analyzed for
identifying the crucial ones.

2.7. Pattern Evaluation

In this stage, the patterns identified in the previous
steps are evaluated for their relevance and usefulness in
the applied domain. There are standard measures to find
out if a pattern is interesting.

2.8. Knowledge Presentation

Here visualization and knowledge representation
techniques are used to present mined knowledge to the user.

3. DATA MINING TECHNIQUES

Techniques applied for mining knowledge can
be divided into various classes depending on the
nature of knowledge that system is unearthing. We
will now look into these important techniques.
Fig. 3. Knowledge discovery process

3.1. Association

2.1. Data Selection

This technique is used to unearth unsuspected data

dependencies. In other words, it tries to detect data items
that are associated or connected or correlated with each
other which are not obvious previously. For example, if
customers who are enquiring about a banking product,
more often enquire about another unrelated product, then
this technique can find this pattern out and inform the
marketing team. More formally, the task is to uncover
hidden associations from a large database. The idea is to
derive a set of strong association rules in the form of
A1A2 Am B1 B2 Bn where Aj (for i{1
m}) and Bj (for j{1 n}) are set of attribute-values

Data required for the analysis are identified and

brought from the data source. This is the first step in data
mining process. Data source can be from operational or
historical database or from a data warehouse.

2.2. Data Preprocessing

It involves Data Cleaning and Data Integration.

2.3. Data Cleaning

This is the stage where noise, irrelevant and
inconsistent data are removed from the data selected.
Science Publications

1254

JCS

Sreekumar Pulakkazhy and R.V.S. Balan / Journal of Computer Science 9 (10): 1252-1259, 2013

subsidiary decision tree for each outcome and tree leaves

represent classes or class distributions. It can easily be
converted to classification rules or can be used to
compact description of data (Asghar and Iqbal, 2009).
Fuzzy sets are applied to the classification techniques
when parameters to consider are of fuzzy in nature.
For example, the length of URL parameter for
detecting phishing sites can range from low to high
with other values in between (Aburrous et al., 2010).
Other commonly used classification technique
involves application of neural networks. A neural
network is essentially a network of processing nodes
with weighted connections between the nodes where
the weights are determined by a learning process
using
training
data.
Neural
networks
are
computationally more expensive than their decision
tree counterparts (Kumar et al. 2011).
Classification works with discrete and unordered data
and helps to identify class labels of the members of the
population. But prediction models works with
continuous-valued functions. That is, it is used to predict
missing or unavailable numerical data values from the
sample attribute values. Commonly used technique for
prediction is regression analysis. It is a statistical
methodology that is used to forecast values from existing
numerical values. In predictive models for data mining,
we have a set of independent variables whose values are
already known and a set of dependent or response
variables whose values we want to predict. Regression
helps us to express the relationship between these
variables as a linear or non-linear function. In many real
world problems related to banking such as stock price
predictions, or credit scoring follow complex models
with many independent variables and requires multidimensional regression analysis and logistic regression
(Li and Liao, 2011).

from the relevant data sets in a database. For example,

data recorded by a point of sales system would indicate
that if customers buy certain items, they are most likely
to buy certain other items. Such information can be used
as decisions for marketing activities promotional pricing
or product placements (Tiwari, 2010). In addition to this,
association rules are employed in application areas
including web usage mining, intrusion detection and
bioinformatics. Typically all association rules are not
interesting. From a large data set, a very large and a high
proportion of the rules mined will be usually of little
value. An associative relationship is considered to be
useful if it satisfies a predefined support and confidence
values (Geng and Hamilton, 2006). Hence, a rule is
discarded if it does not satisfy this minimum support
threshold and minimum confidence threshold. All these
discovered strong association rules may not be
interesting enough to present. Additional analysis need to
be performed to uncover interesting statistical
correlations between associated attribute-value pairs
(Geng and Hamilton, 2006). Various types of association
include (Ramageri, 2010):

Multilevel association rule

Multidimensional association rule
Quantitative association rule
Direct association rule
Indirect association rule

3.2. Classification and Prediction

This is the most commonly applied data mining
technique. It is employed when the classes of data in the
population are known. For example, in the case of
detecting fraudulent banking transactions from a banks
transactions database, there can only be two classes,
namely fraudulent and non-fraudulent. It constructs a
model from the sample data items with known class
labels and use this model to predict the class of objects in
the population whose classes are not known. Each tuple
from the database contains one or more predicting
attributes which determines the predicted class label of
the tuple according to the constructed model. In the
banking scene, classification technique is employed
for Fraud detection (both corporate and credit fraud)
(Ngai et al., 2011) These models are constructed usually
using a decision tree model or a neural network model. A
decision tree is a flow chart like recursive structure to
express classification rules where each node specifies a
test on an attribute value, each branch specifies a
mutually exclusive outcome of the test together with a
Science Publications

3.3. Cluster Analysis and Concept Formation

Clustering is similar to classification. But subtle
difference is that classes are not known before. Clustering
is used to generate class labels. The objects are classified
or grouped based on the principle of maximizing the
similarity within a class based on the observed pattern. A
regularly used and the simplest of clustering algorithms is
K-means algorithm (Kaur and Kaur, 2013). Heuristics
based on the domain information can be applied to cluster
data where K-Means algorithm produces a large number
of outliers (Shashidhar and Varadarajan, 2011). SelfOrganizing Map is an important neural network based
technique employed for clustering and has been applied
1255

JCS

Sreekumar Pulakkazhy and R.V.S. Balan / Journal of Computer Science 9 (10): 1252-1259, 2013

obtained from probability models of customer behavior

to forecast their future behaviors in various situations.
Data mining can derive this score using the past
behaviors of the borrower related to debt repayments by
analyzing available credit history (He et al., 2010).

for problems in banking domain (Shih, 2011). Concept

formation is a closely related process to clustering and is
used to learn summaries from data. This process
integrates learning and classification tasks to identify
summaries and organize learned summaries into a
hierarchy. In banking area, clustering and concept
formation can be employed for classifying customers
with same kind of transactions or queries or profiles or
subscribe to similar products or has similar risk aptitude.
For example, in banking sector salaried customers tend
to join investment plans with regular contributions.
Knowledge about these classes will help banks to design
products to each class of customers and can embark on
targeted and more effective marketing campaigns.

4.2. Marketing
Marketing is one of the mostly used application area
for Data Mining by the industry in general (Zhang et al.,
2008). Banking is not an exception. Retaining customers
and finding new customers are getting increasingly
difficult because of cut throat competition prevailing in
the market these days. Only way to retain a customer or
win a new customer is to be proactive and know
beforehand what the customer expects and offer him
what he wants. This is where data mining can help a
great deal (Chopra et al., 2011). Data mining applied to
customer relationship management systems can analyze
customer data and can discover key indicators to help the
bank to be equipped with the knowledge of factors that
affected customers demands in the past and their needs
in the future (Ngai et al., 2009). This enables the bank to
targeted marketing. Sequential patterns can be analyzed
to investigate changing customer preferences and can
approach customers pro-actively (Sundari and
Thangadurai, 2010). Data mining techniques can help in
classifying customers according to the customers
attributes, behavior, needs, preferences, value and other
factors (Ren et al., 2010). Mainly two scoring models are
used for this classification purposes, namely credit
scoring model and behavioral scoring model. This
classification is valuable information for making
customer oriented marketing strategies tailor made for
the target category and provide different services for
each customer category (Ping and Liang, 2010). For
example it can determine how customers will react to a
change in interest rates, which customers will be likely
to accept new product offers, what collateral would
require from a specific customer segment for reducing
loan losses. Different levels of analysis like
RFM(Recency, Frequency and Monitory) analysis, LTV
(Life Time Value) of customers coupled with K-Means
clustering can be employed to develop an effective
customer segmentation thereby increasing targeted
marketing (Varun et al., 2012). Data mining can also
reveal possibility of cross selling such as selling home
loans to credit card customers by analyzing associations
from the past data (Qiu et al., 2009). It can also develop
a model of existing home loan customers to analyze
their profiles to explore similar customers in other
portfolios (like demand deposits or customers with

4. APPLICATION AREAS OF DATA

MINING IN BANKING
Banking information systems contains huge
volumes of data both operational and historical. Data
mining can assist critical decision making processes in
a bank (Ionita and Ionita, 2011). Banks who apply
data mining techniques in their decision making
hugely benefit and hold an edge over others who
dont. Some of these decisions are in the areas of
marketing, risk management and default detection,
fraud detection, customer relationship management
and money laundering detection (Khac and Kechadi,
2010; Dheepa and Dhanapal, 2009). These
applications are described below.

4.1. Risk Management and Default Detection

Every lending decision a bank takes involve a certain
amount of risk. Quantifying this risk can make the risk
management process easier and limit the risk of financial
loss to the bank. Knowing customers capability to repay
can greatly enhance a credit managers decisions. Data
mining can also help to identify which customer is going
to delay or default a loan repayment (Kazi and Ahmed,
2012). This advanced knowledge can help the bank to
take corrective measures to prevent losses. For such
forecasting, parameters to consider are turnover trends,
balance sheet figures, limit utilization, behavioral
patterns and cheque return patterns. Historical default
patterns can also help in predicting future defaults when
same patterns are discovered (Costa et al., 2007). Data
mining techniques are applied to enhance the accuracy of
credit scores and predict default probabilities (Li and Lia
o, 2011). Credit score is a value representing a
borrowers creditworthiness. Behavioral scores are
Science Publications

1256

JCS

Sreekumar Pulakkazhy and R.V.S. Balan / Journal of Computer Science 9 (10): 1252-1259, 2013

insurance products) to find out potential customers for

home loans (Shinde et al., 2012).

that can lead to money laundering. Typically such

systems take client risk assessment data, transaction risk
measurement data and patterns and behavior patterns
into consideration for detecting money laundering
patterns. Transactions are then grouped into clusters
based on their similarities found in these chosen
attributes (Khac et al., 2011). In a large database of
banking transactions, it is possible that a huge number of
patterns emerge and will be classified as money
laundering transactions thereby increasing false
positives. Statistical false reduction methods based on
decision tree classification are employed to limit the
number of false patterns detected (Anuar et al., 2008).

4.3. Fraud Detection

Banks lose millions of dollars annually to various
frauds. Detecting fraudulent transactions can help the
banks to act early and limit the damages. Fraud
detection is the process of identifying fraudulent
transactions from genuine transactions or in other
words this process segregates a list of transactions into
two classes namely fraudulent and legitimate
(Ogwueleka, 2011). Most important area where fraud
detection can help is the credit card products.
Clustering methods can be used to classify transactions
and outliers can be analyzed for frauds (Dheepa and
Dhanapal, 2009). Probability density of credit card
users past behavior can be modeled and the probability
of current behavior can be calculated to detect frauds
(Dheepa and Dhanapal, 2009). Patterns of customers
transactions can be discovered and alerts can be
generated if any measurable deviations are found.
Financial statement fraud detection is another area
that can employ data mining principles to effective use.
Banks make credit decisions based on financial
statements produced by customers. These statements
may contain overstated assets, sales and profits or it may
understate losses and liabilities. Even though these
statements may have been audited, these kinds of frauds
are hard to detect using normal auditing procedures.
Classification techniques based on neural network,
regression and decision tree are used for classifying
fraudulent ratios in the statements from the nonfraudulent data (Sharma and Panigrahi, 2012).

4.5. Investment Banking

Investment is an action of investing money into an
asset or item for profit/income. Banks often offer
investment services to their customers. There are a
vast number of financial instruments in the market.
Data mining like K-means clustering can be applied to
choose the best investments based on customers
profile (Ingle and Meshram, 2012). Capability to
predict asset prices (for example stock prices) from
historic prices can increase returns from investment
tremendously. Data mining techniques for prediction like
neural networks and linear regression can be employed
for prediction of prices for stocks (Naeini et al., 2010).
Data mining can also be applied in time series
analysis for financial applications (Tak-chung, 2011).

5. CONCLUSION
Data mining is a process to extract knowledge
from existing data. It is used as a tool in banking and
finance in general to discover useful information from
the operational and historical data to enable better
decision-making. It is an interdisciplinary field,
confluence of Statistics, Database technology,
Information
science,
Machine
learning
and
Visualization. It involves steps that include data
selection, data integration, data transformation, data
mining, pattern evaluation, knowledge presentation.
Banks use data mining in various application areas
like marketing, fraud detection, risk management,
money laundering detection and investment banking.
The patterns detected help the bank to forecast future
events that can help in its decision-making processes.
More and more banks are investing in data mining
technologies to be more competitive.

4.4. Money Laundering Detection

Money Laundering is the process of hiding the illegal
origin of black money so as to legitimize it (Khac and
Kechadi, 2010). Banks are commonly used as channels
to launder money. Therefore governments and financial
regulators require banks to implement processes, systems
and procedures to detect and prevent money laundering
transactions. Failure to detect and prevent such illegal
transactions can invite hefty fines both monetarily and
operationally which can prove very costly for the bank
and even can make its survival difficult. Conventional
rule-based transaction analysis based on reports and tools
will not be sufficient to detect more complicated
transaction patterns like smurfing and networked
transactions (Khac et al., 2011). Here data mining
techniques can be applied to dig out transaction patterns
Science Publications

1257

JCS

Sreekumar Pulakkazhy and R.V.S. Balan / Journal of Computer Science 9 (10): 1252-1259, 2013

6. REFERENCES

Ionita, I. and L. Ionita, 2011. A decision support

based on data mining in e-banking. IEEE
Preccedings of the 10th Reodunet International
Conference (RoEduNet), Jun. 23-25, IEEE Xplore
Press, Iasi, pp:
1-5.
DOI:
10.1109/RoEduNet.2011.5993710
Kaur, G. and L. Sing, 2011. Data mining: An overview.
Int. J. Comput. Sci. Technol., 2: 336-339.
Kaur, S. and U. Kaur, 2013. A survey on various
clustering techniques with k-means clustering
algorithm in detail. Int. J. Comput. Sci. Mob.
Comput., 2: 155-159.
Kazi, I.M. and. Q.B. Ahmed, 2012. Use of data mining
in banking. Int. J. Eng. Res. Appli., 2: 738-742.
Khac, N.A.L. and M. Kechadi, 2010. Application of data
mining for anti-money laundering detection: A case
study. Proccedigs of the International Conference on
Data Mining Workshop, Dec. 13-13, IEEE Xplore
pp: 577-584. DOI:
Press, Sydney, NSW.,
10.1109/ICDMW.2010.66
Khac, N.A.L. S. Markos, M. ONeill, A. Brabazon and
M. Kechadi, 2011. An investigation into data
mining approaches for anti money laundering.
Proceedings of the International Conference on
Computer Engineering Applications, (EA 11),
Lacsit Press, Singapor, pp: 504-508.
Kumar, P., Nitin, S.V. and D.S. Chauhan, 2011.
Performance evaluation of decision tree versus
artificial neural network based classifiers in
diversity of datasets. Proccedigs of the World
Congress on Information and Communication
Technologies, Dec. 11-14, IEEE Xplore Press,
Mumbai,
pp:
798-803.
DOI:
10.1109/WICT.2011.6141349
Li, W. and J. Liao, 2011. An empirical study on credit
scoring model for credit card by using data
mining technology. Proceedigngs of the 7th
International Conference on Computational
Intelligence and Security, Dec. 3-4, IEEE Xplor
Press,
Hainan,
pp:
1279-1282.
DOI:
10.1109/CIS.2011.283
Naeini, M.P., H. Taremian and H.B. Hashemi, 2010.
Stock market value prediction using neural
networks. Proccedings of the International
Conference on Computer Information Systems
and Industrial Management Applications, Oct. 810, IEEE Xplore Press, Krackow, pp: 132-136.
DOI: 10.1109/CISIM.2010.5643675

Aburrous, M., M.A. Hossain and K. Dahal and F.

Thabtah, 2010.
Intelligent phishing detection
system for e-banking using fuzzy data mining.
Expert Syst. Appli., 37: 7913-7921. DOI:
10.1016/j.eswa.2010.04.044
Anuar, N.B., H. Sallehudin, A. Gani and O. Zakari,
2008. Identifying false alarm for network intrusion
detection system using hybrid data mining and
decision tree. Malyasian J. Comput. Sci., 21: 110115.
Asghar, S. and K. Iqbal, 2009. Automated data mining
techniques: A critical literature review. IEEE
Proccedings of the International Conference on
Information Management and Engineering, Apr. 3-5,
IEEE Xplore Press, Kuala Lumpur, pp: 75-79. DOI:
10.1109/ICIME.2009.98
Bhambri, V., 2011. Application of data mining in
banking sector. Internat. J. Comput. Sci. Technol., 2:
199-201.
Chopra, B., V. Bhambri and B. Krishnan, 2011.
Implementation of data mining techniques for
strategic CRM issues. Int. J. Comput. Technol.
Appli., 2: 879-883.
Costa, G., F. Folino, A. Locane, G. Manco and R. Ortale,
2007. Data mining for effective risk analysis in a
bank intelligence scenario. Preccedings of the 23rd
International Conference on Data Engineering
Workshop, Apr. 17-20, IEEE Xplore Press, Istanbul,
pp: 904-911. DOI: 10.1109/ICDEW.2007.4401083
Deshpande, M.S.P. and D.V.M. Thakare, 2010. Data
mining system and applications: A review. Int. J.
Distrib. Parallel Syst., 1: 32-44.
Dheepa, V. and R. Dhanapal, 2009. Analysis of credit
card fraud detection methods. Int. J. Recent Trends
Eng., 2: 126-128.
Geng, L. and J.H. Hamilton, 2006. Interestingness
measures for data mining: A survey. ACM Comput.
Surveys, 38: 00-00. DOI: 10.1145/1132960.1132963
He, J., Y. Zhang, Y. Shi and G. Huang, 2010. Domaindriven classification based on multiple criteria and
multiple
constraint-level
programming
for
intelligent credit scoring. IEEE Trans. Knowl. Data
Eng., 22: 826-838. DOI: 10.1109/TKDE.2010.43
Ingle, D.R. and B.B. Meshram, 2012. E-Investment
banking: NextGen investment. Int. J. Advanced Res.
Comput. Eng. Technol.,
Science Publications

1258

JCS

Sreekumar Pulakkazhy and R.V.S. Balan / Journal of Computer Science 9 (10): 1252-1259, 2013

Ngai, E.W.T., H. Yong, Y.H. Wong, C. Yijun and S.

Xin, 2011. The application of data mining
techniques in financial fraud detection: A
classification framework and an academic review of
literature. Decision Support Syst., 50: 559-569.
DOI: 10.1016/j.dss.2010.08.006
Ngai, E.W.T., L. Xiu and D.C.K. Chau, 2009.
Application of data mining techniques in customer
relationship management: A literature review and
classification. Expert Syst. Appli., 36: 2592-2602.
DOI: 10.1016/j.eswa.2008.02.021
Ogwueleka, F.N., 2011. Data mining application in
credit card fraud detection system. J. Eng. Sci.
Technol., 6: 311-322.
Ping, Z.L. and S.Q. Liang, 2010. Data mining
application in banking-customer relationship
management. Proccedigns of the International
Conference on Computer Application and System
Modeling, Oct. 22-24, IEEE Xplore Press,
Taiyuan,
pp:124-126.
DOI:
10.1109/ICCASM.2010.5619002
Qiu, D.H., Y. Wang and Q.F. Zhang, 2009. A model
for a bank to identify cross-selling opportunities.
Proccedigns of the International Conference on
Computational
Intelligence
and
Software
Engineering, Dec. 11-13, IEEE Xplore Press,
Wuhan,
pp:
1-4.
DOI:
10.1109/CISE.2009.5362870
Ramageri, B.M., 2010. Data mining techniques and
applications. Ind. J. Comput. Sci. Eng., 1: 301-305.
Ren, S., Q. Sun
and Y. Shi, 2010. Customer
segmentation of bank based on data warehouse and
data mining. Proceedings of the 2nd IEEE
International
Conference
on
Information
Management and Enginerring, Apr. 16-18, IEEE
Xplore Press, Chengdu, pp: 349-353. DOI:
10.1109/ICIME.2010.5477693
Sharma, A. and P.K. Panigrahi, 2012. A review of
financial accounting fraud detection based on data
mining techniques. Int. J. Comput. Appli., 39: 37-47.
DOI: 10.5120/4787-7016
Shashidhar, H.V. and S. Varadarajan, 2011. Customer
segmentation of bank based on data mining-security
value based heuristic approach as a replacement to
k-means segmentation. Int. J. Comput. Appli., 19:
13-18.
Science Publications

Shih, J.Y., 2011. Using self-organizing maps for

analyzing credit rating and financial data.
Proceedings of the IEEE International Summer
Conference of Asia Pacific Business Innovation and
Technology Management, Jul. 10-12, IEEE Xplore
Press,
Dalian,
pp:
109-112.
DOI:
10.1109/APBITM.2011.5996303
Shinde, R., P. Vaghurdekar and S. Shinde, 2012.
Deliberation of data mining in banking. Int. J. Eng.
Res. Techenol., 1: 1-7.
Sing, H.K. and A.E. Tigga, 2012. Impact of information
technology on indian banking services. Proccedigns
of the 1st International Conference on Recent
Advances in Information Technology, Mar. 15-17,
IEEE Xlore Press, Dhanbad, pp: 662-665. DOI:
10.1109/RAIT.2012.6194608
Sundari, P. and K. Thangadurai, 2010. An empirical
study on data mining applications. Global J.
Comput. Sci. Technol., 10: 23-27.
Tak-chung, F., 2011. A review on time series data
mining. Eng. Appli. Artif. Intell., 24: 164-181. DOI:
10.1016/j.engappai.2010.09.007
Tiwari, M., 2010. Data mining: A competitive tool in
retail industries. Global J. Enterprise Inform. Syst.,
Varun, K.M., Chaitanya, V.M. and M. Madhavan, 2012.
Segmenting the banking market strategy by
clustering. Int. J. Comput. Appli., 45: 10-10.
Zhang, G., F. Zhou, F. Wang and J. Luo, 2008.
Knowledge creation in marketing based on data
mining. Proccedings of the International Conference
on Intelligent Computation Technology and
Automation, Oct. 20-22, IEEE Xplore Press, Hunan,
pp: 782-786. DOI: 10.1109/ICICTA.2008.45

1259

JCS