CASE STUDY NFSK - VUB

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Barbra Cook
8 years ago
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1 CASE STUDY NFSK - VUB

2 VÚB Master Data Management by Master Data Management Solution implemented on Orchestra Networks EBX.Platform New Frontier Slovakia delivered a Master data management solution for VUB bank. The aim of this project was to consolidate and centralize the definitions and management of key (master) data in the fields of products, organizational structure, distribution channels, segmentation and many others. Thanks to that, one source of truth of the most important data of the bank came into existence. The project also covered all necessary application support for processes of VUB bank. 1

3 Business Challenges Within the scope of proof of concept, New Frontier Slovakia identified systems working with master data (primary products and the organizational structure) and mapped processes related to maintenance of these data. - In the field of products, there were at least 8 systems that worked with specific collection of products, contained only partial information about them and in some cases these information were abhorent among systems. The main problem was the lack of expliciteness of terms like product and their comprehension across the bank. - The organizational structure of the company was not captured in any system as a whole. Existing systems had cardinal limits (i.e. unability to define a real hierarchy which had to be distorted according the possibilities of such a system). Because of that, the crutial fields for business were difficult to define the client portfolio in correlation with organizational units and with individual employees. - Among other identified areas, there were challenges identified in fields of segmentation and client specific data, as well as with dimensions and hierarchies dedicated for purposes of repoting. Objectives The main aims of this projects were: - implement master data management and integrate it into existing company processes - increase the quality of the data for reporting - consolidate the data about products, organizational structure, segmentation and shared codebooks 2

4 Solution During the phases of the Master Data Management project we implemented standard technological solution for the area of MDM and we consolidated the fields of product catalog, organizational structure, segmentation and shared codebooks. The implemented solution is a customization on top of EBX Platform. This allows working with any specific data model and definition of specific workflow processes for each of it s part. It leads to standardization of processes. In the field of the product catalog, we defined products on the business level and also the mappings to the existing systems. In succeeding phases, MDM serves as the source of data for front-end application supporting product sales. Organizational structure was defined for the whole bank, so far the existing systems covered parts of the organizational hierarchy. Segmentation and common shared codebooks are another areas where we consolidated the data and have built standardized workflow processes for mainternance of data and back-end system mappings. Benefits & Results - Definition and maintenance of master data in one place - Distribution of master data to other systems of the bank from one centralized source - Definition of master data maintenance processes and the application support related to it - Increase in informedness about data thanks to the standardization of processes and implementation of workflow, the users are automatically informed about updates - Cut-down in error rates in master data definitions - Product catalog field - Definition of products on business level and generation of mappings for existing systems - Increase in quality of data related to products only during the definition of MDM, 253 errors in definitions were eliminated - Implementation of a consistent hierarchy for product related reporting - Organizational structure field - Generation of a real hierarchy of organizational units including the possibilities for examination of subsidiaries - Definitions of clear identicifators of organizational units across the systems 3

5 Overview Master Data Management Solution implemented on Oracle, Java and Orchestra Networks EBX platform Country Slovakia Type of Business Banking Customer Profile The Italian banking group Intesa Sanpaolo is the majority shareholder of VÚB, holding a % stake. It was formed in January 2007 by the merger of Sanpaolo IMI and Banca Intesa. Business Situation Various systems containing crutial data about products, organizational hierarchies, segmentation and codebooks were placing cardinal limits for storing complex data, thus they contained only partial information that was not captured as a whole. Result There was a considerable increase in data quality and in understanding of crutial business terms among relevant employees. Benefit Definition and distribution of master data to other systems from one centralized source. Thanks to that, one source of truth came into existence. Implemented Solutions Orchestra Networks EBX.Platform 4

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