Business Intelligence in Financial Services
Within the current economic climate, financial institutions continue to consolidate and rationalize their businesses, to seek efficiencies and re-appropriate capital to areas that will drive future growth. Traders, brokers, insurers and branch managers are seeking improved insight to corporate performance and profitability, gain efficiencies in operational management and processing, and achieve an integrated view of enterprise wide risk exposure.
For years, financial institutions have collected vast amounts of customer and market data. As this data has been stored in silos, and used primarily for operational purposes rather than for its wealth of business insight, financial institutions have untapped potential to strategically address trends in the business and increase the long-term profitability of the customer portfolio. At a time where we have an explosive growth of structured and unstructured ‘Big Data’, the ability to manage this data is paramount. Additionally, as the industry moves from batch to real-time, the requirement for real time analytics has become more acute. For example, operations managers need to know the state of transaction processing regardless of client, application or delivery channel. By monitoring these patterns, new efficiencies in process and headcount utilization can be achieved - leading to increased efficiency and lower operational costs.
Unlocking the power of data is perhaps the most underleveraged corporate asset. With improved insight, employees are empowered to optimize new products, control costs, reduce risk, improve customer loyalty, and build deeper customer relationships.
Microsoft supports financial institutions with a platform to deliver break-through insight into business performance, customer profitability, and provide an integrated view of enterprise-wide risk exposure. The Microsoft business intelligence solution puts information into the hands of authorized bank employees who need it to improve the bank's competitive advantage, the trader looking to develop new portfolio strategies, and the underwriter evaluating a pricing optimization to increase their returns. This solution helps improve their insight by integrating multichannel data and providing easy-to-use tools for analysis, planning, monitoring and reporting - enabling financial institutions to strategically address trends in their business performance, IT performance, and customer behavior with a high degree of granularity.
The Microsoft advantage is its complete platform approach to solving these complex needs through near real-time business performance insight and channel integration. Microsoft's business intelligence (BI) platform is differentiated by its low cost, scale, and simplicity of use. Its capabilities include robust and dynamic visualization that helps facilitate broad use and adoption and the platform is designed to support a wide range of requirements to specifically address BI and performance management for an entire organization, specific teams, or individuals, as required.