Retail Banking Business Review

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1 Retail Banking Business Review Industry Trends and Case Studies U.S. Bank Scotiabank Pershing LLC Saudi Credit Bureau Major International Bank

2 Information Builders has been helping customers to transform their corporate data into business value for almost four decades. With best-of-breed solutions for intelligence, integration, and integrity, we deliver the knowledge organizations need to generate more revenue, enhance customer support, improve operations and financial management, mitigate fraud and risk, and facilitate compliance. Our business intelligence (BI), advanced analytics, and performance management solutions offer broad data access, unparalleled usability and scalability, and low cost of ownership. Companies can transform historical, real-time, and predictive data into information and analytics that are consumable by all employees, managers, partners, and customers. Integration Our integration solutions unify all data, applications, B2B interactions, and cloud-based information assets. From data and application integration, to more complex integration projects, we provide the tools that help optimize mission-critical business processes and transform raw information into insight that drives real-time decision-making and competitive advantage. Integrity Our data quality management, master data management, and data governance solutions dramatically enhance the completeness, accuracy, and consistency of vital information across all systems and sources. To learn more about our intelligence, integration, and integrity solutions, visit us at informationbuilders.com.

3 Table of Contents Retail Banking: A Tale of Two Customers 2 Frank H. Bria Solutions for Today s Retail Banking Challenges 5 U.S. Bank 8 U.S. Bank Creates Credit Card Reporting Solution for Small Businesses Scotiabank 11 Scotiabank Invests in iway Software Integration Technology Pershing LLC 14 Pershing Provides Financial Insight to Broad Base of Busy Brokers Saudi Credit Bureau 17 Saudi Credit Bureau Reduces Financial Risk With BI and ETL Major International Bank 20 Compliant Banking Operations via a Single Customer View Getting Results for Retail Banking 23 Information Builders 1

4 Frank Bria is a research director in TowerGroup s Retail Banking & Cards practice, specializing in research and advice on banking analytics and consumer lending. The topics he covers include marketing, risk, and operational analytics, as well as business processes associated with consumer lending, risk management, and pricing. Frank has 15 years experience in the financial services sector involving data analysis, loss forecasting, marketing analytics, and technology process design supporting retail banking. Frank H. Bria Research Director, Retail Banking & Cards Retail Banking: A Tale of Two Customers As we look forward, strategic planners are searching for guideposts to help point the way. A number of challenges are commonplace now for retail banking executives: regulation, capital requirements, the economy, changing technology, customer expectations, and trust. All of these challenges come together in the retail banking portfolio to segment it into two distinct groups. One group of customers is profitable. They are the growth group. These customers use financial products profitably and are currently a boon to the bank s bottom line. The key is to encourage even more profitable behavior, expand utilization, and increase share of wallet. Most institutions, however, cannot do that across the board. Casting too wide of a net captures some of the second group of customers. The other group of customers is marginally profitable or not at all. These customers use financial products in a way where the servicing and operational costs don t match up with the revenue. Revenue is under attack on two fronts. First, new regulation eliminates some potential for revenue. Second, declining and stagnant economies mean that customers simply have less cash. Since most of the easy cost-cutting measures have been implemented, it is difficult for institutions to plan for this group of customers. The goal must be to contain the group, either by finding a way to turn a profit or reducing the size of this group. 2 Retail Banking Business Review

5 As banks look to find ways to identify and service both groups, several technology responses are emerging. Each is being used to address the concerns and opportunities of these customers and, in turn, affect the bottom line. Successful retail banks, and financial services institutions (FSIs) more generally, will adopt and/or expand practices and technology around each of these trends. Gathering Customer The first challenge is identifying the customers in each group. This effort requires a major scrutiny of client data. Ensuring data quality and rationalizing it across business lines is essential. Once that data is trusted across the enterprise, it can then be mined and modeled to provide the business intelligence needed to segment the portfolio. For customers in the growth group, their data can be used to understand product alignment, pricing, and positioning. New technology around price sensitivity and propensity to consume credit are also being used to increase profit in new and unique ways. Customer intelligence is also extremely valuable for consumers in the contain group. That same data helps firms calculate customer profitability and see how product and service usage aligns with revenue. It informs new product design to create lower-cost options that still address their core financial needs. In addition, predictive and prescriptive analytics will help FSIs identify customers who are getting into financial trouble so they can intervene early, communicate more effectively, and mitigate any losses in an optimal way. From raw debit card and ATM transactions to social media, institutions are beginning to integrate big data into their product strategy. This analysis can align a specific product strategy to a specific customer like knowing not only that a customer is likely to overdraft an account, but also predicting exactly when it will happen. Enhancing the Customer Experience With the proliferation of new channels for customer communication, be it mobile, web, or social media, FSIs have an opportunity to enhance the experience of these two groups. For the growth customer, enhanced customer experience means integration of sophisticated tools and alerts that help the customer achieve his or her financial goals. It also means providing relevant and timely offers that don t just blindly increase share of wallet, but enhance loyalty and meet customer needs. All of these tools and information serve the goal of increasing shared data between the institution and the consumer. For the contain customer, customer experience is heightened by encouraging the consumer to use the right channel one that is lower in cost and aligns with projected revenue. An aligned customer experience for these consumers will also seamlessly direct them to products and services that better fit their profile and provide instant approvals. Few things destroy customer trust more than being recommended a product for which they then are declined. Gathering Product Information about the use and profitability of retail financial products is important to the success of both groups of customers. Important product metrics can help provide guideposts to achieve the delicate balance between the two groups. Tracking key indicators, such as instrument pricing and value at risk along with benchmarking against competitors, provides insight. To see the path ahead, firms are also using trend analysis and forecasting. Big data plays a role in product intelligence as well. High-frequency data analysis, such as tick data, helps understand instrument trends before others and improve trade execution. In these environments nothing short of real-time, complex event analysis will suffice. Information Builders 3

6 Managing Risk and Compliance In the realm of regulatory compliance, rulemaking bodies haven t finished their work, they ve only just begun. It has become clear that new regulations are forcing FSIs to be more transparent in their product offerings and are offering less flexibility to institutions that discovered they mispriced an instrument or a transaction. It is critical for firms to have systems in place to measure and manage risk across a number of different areas. Operational, credit, and market risks are now more frequently being viewed in concert rather than managed as separate practices. This integrated view of risk requires data and systems integrations along with more intelligent analytics to inform decision-making and policy creation. Managing the ongoing credit risk for contain consumers will continue to be a challenge. It is more important than ever that FSIs use more of their own internal data along with alternative external data sources to enhance credit risk analytics. In ongoing servicing and collections, the use of prescriptive analytics and decision support are being used to optimally mitigate losses. Enhancing Operational Performance Very few easy cost-cutting measures are left on the table. After years of reducing expenses, FSIs are left with the challenge of continuing to find ways to make their operations more efficient. However, there is still opportunity in resource alignment and optimization. Operational alerts and benchmarks help FSIs get a real-time view of how the business is running. By uncovering problems quickly and addressing resource constraints, institutions can be even more efficient and cut out the intermittent slack that is otherwise so difficult to manage. This tight management of operations will be become increasingly important for the contain group of consumers. A complete awareness of the operational drain unprofitable customers put on the organization will give FSIs the data they need to make the difficult decision to encourage attrition among some consumers. Organizations are typically reticent to do that, and rightfully so. Without solid data backing it up, it s difficult to know if such managed attrition provides a lift to the bottom line on a long-term basis. Because that decision carries such a large impact, it is essential to have the right systems in place. Retail banks that focus on these five key technology responses will be better prepared to identify, service, and satisfy these two groups of customers. It will be easier to satisfy regulators and comply with new rules. In addition, they will help stave off pressure from competitors and alternative service providers that look to pick off business from both types of customers. Focusing on these issues will help banks grow where they can, contain where they need, and establish a path to better profitability. 4 Retail Banking Business Review

7 Solutions for Today s Retail Banking Challenges Nine of the ten largest banks in the U.S., the five largest banks in Canada, and 83 percent of the world s largest financial institutions rely on Information Builders for business intelligence and advanced analytics that s more than 350 active client accounts. Information Builders commands a large share of the financial services market for a fundamental reason: its products and solutions, professional services, and domain expertise align tightly with the needs of this dynamic industry. Retail banks face many challenges new regulations and capital requirements, rising customer expectations, and, very importantly, the imperative to strengthen consumer confidence. This makes alignment between IT strategy and business objectives more critical than ever. But not only must technology solutions help to address these challenges head on, they must also optimize workflow and resources, reduce operating costs, and drive innovation and new business growth. It is a tall order. Introducing the Information Builders Solution Portfolio for Financial Services A set of five solution types Customer Experience, Customer, Product, Risk and Compliance, Operations and Finance the Information Builders Solution Portfolio for Financial Services represents the depth and breadth of thousands of Information Builders applications deployed in financial services. Information Builders 5

8 The Solution Portfolio is built upon a unified technology platform that comprises three product lines: enterprise integration, data integrity, and business intelligence with advanced analytics. As such, each Information Builders solution type benefits from the interoperability of applications, data, packages and real-time transactions. Business and Business Analytics Customer Experience Customer Product Risk and Compliance Operations and Finance Data Quality, Master Data, and Governance Application and Data Integration Information Builders Solution Portfolio for Financial Services. Data quality underpins each solution, which helps to deliver answers to complex and challenging questions with accurate and actionable real-time information. This information can be delivered however and wherever it is most useful from slick dashboards and scorecards on a web browser, smartphone, or tablet to Excel worksheets and messages inviting offline exploration or interactive visualization. With an Information Builders solution, retail banks can empower a variety of users with the information they need to make smarter decisions, within and beyond the enterprise. Customer in the Driver s Seat The battle for customers, market share, and profitability in financial services is being waged online, accelerated by familiarity and advances in security and mobility. Accordingly, customer experience and integration each pronounced strengths of Information Builders together with real-time customer and product intelligence, have moved to the forefront of retail banking requirements. Imagine an attractive, online cockpit designed for retail banking customers. In addition to traditional account balance monitoring, online bill payment, and transfers, the cockpit integrates personal investment data, mortgages, and credit lines one s full measure of finance into an integrated database providing a single view of wealth. Simple and powerful analytical tools are available to explore past performance, set goals, and perform what-if analysis supported by investment recommendations from the bank, or customers like you. Imagine that the cockpit is always on responding to customer actions and portfolio performance trends, with customized and welcome offers from the bank. It is a compelling and profitable vision. High Scalability and Extensibility Solutions derived from the Information Builders Solution Portfolio for Financial Services can easily scale to meet the needs of the business. Often, the first deployment addresses a single, tactical objective like credit card transaction spend analysis and benchmarking, or customer account segmentation and reporting. Because Information Builders solutions are architected on a unified platform, each subsequent solution becomes another building block within the virtuous cycle of the customer-institution-products relationship. These may include such projects as operational integration after mergers and acquisitions, data cleansing initiatives to reconcile customer relationship data among siloed systems, and acceleration of a crossplatform mobile banking app that requires guaranteed transactional integrity. Information 6 Retail Banking Business Review

9 Information Builders Solution Portfolio for Financial Services Solution Types Technology Response Solution Examples Customer Experience Customer Deliver data, products, services, and analytical tools to an institution s customers when and how they want it; enriches their experience with customized capabilities and offers, while reducing costs. Product Empowers customers Risk and to serve Compliance themselves, 24/7. Operations and Finance Consumer card spend analysis and benchmarking Self-service dashboards, reporting, and visualization for one million online customers Interactive, online investor relations tear sheet, with drill-down Customer Experience Customer Product Give insight and guidance into customer and marketplace behavior, needs, and trends to optimize the customer experience, grow margins, and reduce cost, while strengthening the relationship. Risk and Enables the institution Operations to look Compliance and Finance outward, onto the history, activities, and predictive behavior of the customer in real time. A single, unified customer view for cross-sell analysis by individual, demographic, or territory Real-time alerts of customer actions or trends suggesting attrition Shareholder registry, demographic, and voting analysis Grow campaign response rates by 30 percent Customer Experience Customer Product Risk and Compliance Provide the benchmarking and analysis with which profitable, market-leading financial products can be designed, monitored, and enhanced. Delivers insights into, and the ability to optimize, Operations the design and performance of and Finance financial products and services. Accelerate lending decisions, including preapproval Real-time identification and analysis of trading spikes and concentrations Key metrics and trends in financial portfolio performance Customer Product Risk and Compliance Measure exposure, and provide insight to proactively respond to all forms of risk, including regulatory mandate. Deliver analysis to optimize the balance between risk, cost, and reward, including deep analytics for both long-range and real-time risk management. Operations and Finance Apply predictive analytics to score credit applications more thoroughly Maximize margins and reduce risk of assetbased loan instruments Integrate third-party risk data with portfolio reporting Product Risk and Compliance Operations and Finance Monitor, respond to, and optimize business processes, operations, and systems to meet preselected goals, simplify workflows, and enable compliance requirements. The institution can look inward, seeking opportunities for continual improvement, while driving out cost and enhancing customer satisfaction. Integrate terabytes of siloed legacy account data for looming regulatory mandates Review pricing models, contracts, and account information through mobile devices Significantly enhance the completeness and accuracy of customer data Builders solutions can meet virtually any need, from simple real-time reporting to advanced analytics and data visualization to interoperability of complex, disparate environments. In Summary The retail banking industry is changing at a rate unprecedented in the last 75 years. Economic, regulatory, customer, and competitive pressures require business responses touching the entire continuum of the retail banking value chain. Information Builders Solution Portfolio for Financial Services provides both the information technology platform, and powerful solution types, which span that same continuum from customer experience, marketplace and product analysis, and risk management, through corporate finance, IT, and the back office. Just ask 83 percent of the world s largest and most important financial services institutions they ll tell you. Information Builders 7

10 U.S. Bank U.S. Bank Creates Credit Card Reporting Solution for Small Businesses High-Performance WebFOCUS Architecture Supports One Million Users Customer Experience Customer Product Risk and Operations Small businesses Compliance have long been and a Finance priority for U.S. Bank. The company consistently rates as a top Small Business Administration (SBA) lender and is often lauded as an advocate for small businesses. Small companies are attracted to U.S. Bank s intense focus on their needs, as well as the company s innovative Internet banking solutions. For example, U.S. Bank s Payments Solutions division recently unveiled a Software-as-a-Service (SaaS) application called ScoreBoard built on Information Builders WebFOCUS business intelligence (BI) platform that makes it easy for small business clients to create reports about their credit cards, debit cards, corporate cards, and other types of electronic payments. ScoreBoard allows small business owners and authorized officers to monitor their company s credit card spending over various time periods, as well as to compare overall credit card transactions to industry trends, explains Robert Kaufman, senior vice president in U.S. Bank s Payments Solutions division. Kaufman and his team selected WebFOCUS to create this customer-facing BI application because of its inherently scalable architecture, which can support large numbers of users with minimal hardware investments and IT support. Information Builders created a reporting infrastructure that can scale to support one million users, he continues. One of our major goals across the organization is to 8 Retail Banking Business Review

11 Organization U.S. Bancorp, the parent company of U.S. Bank, is the fifth largest commercial bank in the U.S. with $282 billion in assets. The Challenge Help small-business clients view their debit, Visa, and MasterCard transaction data online and run aggregate reports to track corporate spending. Information Builders created a reporting infrastructure that can scale to support one million users. The Strategy Create BI dashboards that present a customized view of card payment activity along with onebutton access to consolidated statements and reports. Permit customers to review and analyze company credit card spending on a monthly, quarterly, annual, or year-to-date basis. The Results A robust customer-facing BI application allows clients to easily monitor corporate credit card spending over various time periods and compare payment data with peer companies to discern industry trends. Information Builders Solution WebFOCUS and Professional Services. SNAPSHOT improve the online experience and encourage more customers to use the Internet channel. Boosting Revenue Through Online Channels With multiple services for small business customers including checking accounts, credit cards, equipment leasing, payroll, insurance, and financing Kaufman believes ScoreBoard will help boost the adoption of U.S. Bank s online banking services. We are promoting the ScoreBoard as one of the tools that will help us boost the number of clients using Internet banking services to 50 percent of the customer base over time. U.S. Bank is initially targeting three primary groups of customers with the ScoreBoard application: The Elavon payment-processing subsidiary, with about 600,000 customers The Retail Payment Services (RPS) division, which has 400,000 customers The Corporate Payment Systems division, which has close to 10,000 customers To appeal to this diverse user base, which includes retailers, restaurants, service bureaus, healthcare companies, and many other types of companies, Kaufman and his team used WebFOCUS to create a BI dashboard that uses in-memory analytics to present card transaction data in a graphical, easy-to-read format. The visually appealing interface uses Adobe Flex graphics to present four basic types of interactive reports: Merchant Summary presents spending at specific merchants, as determined by total dollar amount spent. Users can view the data by individual cardholder or on a total company basis Merchant Detail presents this same information at the transaction level, including date, merchant location, reference number, and amount Industry Summary recaps spending by calendar month for each individual business card or on a total company basis Industry Detail shows purchase activity by account, amount, market segment, and industry We went from idea to implementation in about five months. Users can view these reports onscreen, output them to PDF files, or download data into Microsoft Excel and Intuit QuickBooks. About 80 percent of U.S. Bank s small business customers use these popular financial accounting and analysis programs. Automating the data-entry process is a huge timesaver for these firms. ScoreBoard reports let our credit card customers see spending trends on a monthly, quarterly, or annual basis, with the data broken down by market segment, explains Kaufman. For example, a customer might see that over the last two quarters, 20 percent of their spending went towards travel and entertainment purchases. Customers can also compare their spending habits and trends against similar businesses. An insurance broker in Northern California, for example, could see how his office equipment purchases compare to others in that area. To provide these aggregate reports, U.S. Bank forged a partnership with Visa to obtain data from across its nationwide network. Building a Scalable Reporting System Kaufman credits Information Builders Professional Services for managing a complex project that included several Information Builders 9

12 distinct teams from U.S. Bank and its Elavon subsidiary. Business leaders and technologists contributed insight, with help from the U.S. Bank infrastructure team, which hosts the application, and core technology group, which supplies the data. We went from idea to implementation in about five months, Kaufman says. The team created a clustered, three-tiered architecture designed for maximum scalability. The WebFOCUS Reporting Server is installed on 64-bit Windows computers running Windows Server Each computer uses 16 processors and 32 GB of memory. This efficient and cost-effective configuration uses relatively inexpensive commodity hardware, offering all the advantages of high-end symmetric multiprocessing and host-based systems for a fraction of the cost. The cluster in this first tier is geographically distributed to ensure business continuity, with half in one data center and the other half in another. Information Builders tested the resiliency of this architecture by suddenly disconnecting the servers in one data center. Report requests were instantly routed to the other data center, with zero failover time. ScoreBoard reports let our credit card customers see spending trends on a monthly, quarterly, or annual basis, with the data broken down by market segment. The second tier includes an application server cluster, based on IBM WebSphere, which operates in a Sun Solaris environment. This is where the WebFOCUS clients are installed. The third tier hosts an Oracle database, where U.S. Bank maintains the ScoreBoard data. High Performance, Low Administration WebFOCUS ensures scalability by providing advanced clustering, load-balancing, failover, and queue management capabilities. WebFOCUS also supports discrete caching, preemptive governing, query analysis, and has its own scalability tool for fine-tuning a runtime environment. As an example, with WebFOCUS built-in load balancing and failover enhancements, a server can be asleep during off hours to conserve resources or awakened during peak performance times to preserve performance levels. WebFOCUS uses server resources only when accessing or processing data, while other types of BI tools require persistent connections to the reporting server, which consumes valuable server resources. Server multi-threading permits multiple users to share the same resources, eliminating the risk of server overload and allowing for greater concurrency. WebFOCUS queries are dynamically partitioned, with complex numbercrunching and aggregation operations optimized across the back-end database and reporting servers, not the Web server or desktop. Thus a single processor can maximize system performance by serving multiple, simultaneous user requests. WebFOCUS includes many tuning parameters and configuration options on the Reporting Server to fine-tune throughput and optimize the management of report requests. Administrators can easily scale out each tier by adding more hardware to the cluster, and can proactively manage this virtual infrastructure using the WebFOCUS Cluster Manager, Autonomic Server, and Workload Distribution Facility, which intelligently routes requests to servers that have the most available capacity. The team performed scalability tests using the Cluster Manager, demonstrating that this WebFOCUS configuration could handle all the traffic that U.S. Bank expects to receive from small business customers. The Cluster Manager lets users manage the distribution of requests to the clustered WebFOCUS reporting servers optimizing We are promoting the ScoreBoard as one of the tools that will help us boost the number of clients using Internet banking services to 50 percent of the customer base over time. scalability and response time. Reporting servers are currently configured to process 300 simultaneous report requests. Since these are short-running requests, the system can theoretically support about 700,000 sessions per hour. 10 Retail Banking Business Review

13 Scotiabank Scotiabank Invests in iway Software Integration Technology Canadian Bank Standardizes on iway to Reduce Development Costs and Boost Revenue r ce Customer Product Risk and Operations Compliance With more than and Finance 12.5 million customers in 50 countries around the world, Scotiabank offers a wide array of products including personal, commercial, corporate, and investment banking services. With CAN$527 billion in assets and 70,000 employees, the organization is one of North America s leading financial institutions and Canada s most international bank. As part of its ongoing process improvement, Scotiabank retail banking executives needed to automate a complex sales reporting process for their branch operations. The bank s Information Technology and Solutions (IT&S) organization was tasked to deliver on this business need. Initially the IT&S organization planned to develop the capability internally. The department selected iway Software integration technology because of its flexibility, its modular design that permits the addition of new data sources, and because it is scalable enough to handle large infrastructure requirements now and in the future. Developers in Scotiabank s IT&S department use iway Service Manager to create reusable interfaces among its core banking systems and iway DataMigrator to automate bulk data movement among various information systems and banking channels. iway is decreasing our overall number of point-to-point interfaces, which is a big time-saver for our developers, says Martine Information Builders 11

14 Lamoureux, vice president of development for Core Banking Technology at Scotiabank. Whenever we have a new project, we try to reuse existing iway interfaces. Over time we are creating more and more standardized interfaces based on our iway integration gateway. Creating data extracts gets easier and easier. With the kind of capacity we have created here we can realistically expect to generate an additional $250 million in annual sales volume across all of the products that we deliver to customers. Getting Started With iway Scotiabank IT&S provides global technology solutions to support the bank s core businesses: Canadian banking, international banking, global wealth management, and Scotia capital. Its technology-based solutions enable Scotiabank to achieve sustained profitable growth and a competitive advantage. Canadian Banking s use of iway technology began when developers were creating a sales reporting system called Sales Builder to encourage cross-selling and to track complex sales-results rules. Sales Builder supplies crucial information to employees in the retail, small business, and wealth management banking lines of business, helping to ensure that sales officers are well informed, properly motivated, and appropriately rewarded for their efforts. With the help of Information Builders Professional Services, Scotiabank automated a tedious data-entry and reporting process, transposing information from many different databases and multiple banking systems to consolidate the results into a centralized database. The database then feeds Scotiabank s Sales Builder application. The banking giant also uses iway to streamline corporate acquisitions, extend the life of its legacy systems, and facilitate international growth and expansion. It doesn t really matter what types of business applications we build or purchase so long as we have a robust integration platform to connect them together, says Mike Bekic, director of Branch and CRM Technologies, Scotiabank. That is our objective with deploying iway. iway Service Manager correlates information from IMS, VSAM, Oracle, and DB2 databases and transposes it into a common relational format, placing the data into distinct event tables in a DB2 database. iway DataMigrator then accesses the database tables to populate a Sales Hub data mart, which resides on a mid-tier WebSphere/Java /DB2 environment. The Sales Hub permits sales and marketing professionals to generate reports about customers, sales, forecasts, and other essential customer relationship management (CRM) activities. We didn t have to write any Java code to do this, says Bekic. It was all handled using standard iway transformation flows and visual tooling. Automating Manual Processes Scotiabank also used iway Service Manager to develop data interfaces to the Sales Builder system, which services about 90 percent of the company s sales officers in the Canadian operation as the basis for assessing its performance in selling credit cards, credit lines, mortgages, and investments. Scotiabank wanted to replace its manual sales reporting process, which was dependent on officer input, with an automated one that captures sales opportunities and then reports the data back to sales officers in the form of coaching and sales results reports. Rather than relying on a manual system, management made the decision to obtain the information directly by gathering it from 21 system inputs and feeding it into the Sales Hub. In the manual, operator-driven reporting system, the interpretation of complex business rules resulted in inconsistency of reported results across the 1,024 branches. By embedding the business rules within the automated system, better consistency and improved reporting integrity have been achieved. The CRM system gives Scotiabank s Customer Knowledge and Insights department the intelligence it needs to reach out to customers and qualify leads in the contact management system, aligning each customer s profile and product mix with the skill set of the correct sales officers. With the kind of capacity we have created here we can realistically expect to generate an additional $250 million in annual sales volume across all of the products that we deliver to customers, says Mike Henry, senior vice president of Customer Experience and Distribution Strategy at Scotiabank. That translates into millions of dollars in bottom-line lift for us. Creating a Flexible Rules Engine Information Builders Professional Services used the iway Business Rules Engine and iway Complex Event Processing capabilities to govern some of the CRM data management processes. The project team, consisting of subject matter experts, Information Builders Professional Services, and Scotiabank s Integration Competency Center personnel, developed a series of business rules to determine what depicted a sale and how that sale was funded. For example, if a sales officer helps a customer invest $10,000 into Certificates of Deposit, and then a month later persuades the customer to roll $5,000 of that investment into a mutual fund, there is a different compensation structure for each type of deposit. iway updates the appropriate banking systems and applies a consistent set of business rules to govern how the sales officer will be compensated for each type of sales activity. If a sale involves a transfer of funds from one location to another, the system can reconcile the results from new and previous sales. This is important since the bank bases sales performance on net new money coming into the bank. 12 Retail Banking Business Review

15 Organization Scotiabank, one of North America s premier financial institutions and Canada s most international bank. The Challenge An outdated sales information infrastructure was creating delays in the delivery and validation of key information needed to support critical growth strategies. The Strategy Create a comprehensive sales reporting environment with automatic data feeds from a variety of financial product lines; use iway to capture data from multiple retail banking systems to deliver weekly sales reports for the bank s 1,024 branches. The Results Scotiabank s developers spend less time on integration projects with less code to maintain; the business can open new channels more quickly; sales staff gain faster access to results. Banking officers free up more than 70,000 hours for more customer interaction time. This was not just a technology project. It was about creating business value by making our employees more productive and more satisfied, so they can focus on what matters most: our customers. Information Builders Solution iway Service Manager, adapters, DataMigrator, WebFOCUS, and Professional Services. SNAPSHOT iway is decreasing our overall number of point-to-point interfaces, which is a big timesaver for our developers. This was not just a technology project. It was about creating business value by making our employees more productive and more satisfied, so they can focus on what matters most: our customers, explains Henry. We devised more than 500 business rules to automate a very complex and boring activity for our personal bankers and financial advisors. This successful project freed up more than 72,000 hours per year that these staff members can now spend advising customers. Reusing iway Interfaces Bekic credits Information Builders Professional Services for helping Scotiabank s in-house staff to understand the iway integration platform as part of these ambitious IT endeavors. For example, they designed the rules engine to be callable from an XML process flow, which permits rules to be dynamically added or changed without modifying the associated business applications. The key to this architecture is to abstract the business rules away from the product systems, says Bekic. We don t need to change 15 or 20 systems to update the rules. We just change the business logic in the mid tier using the web-based interface. Scotiabank has created a Center of Expertise (CoE) to promote best practices for using the iway integration environment, along with a robust enterprise service bus as a universal integration layer. The service bus includes a fully redundant enterprise topology with automatic failover to ensure business continuity. iway receives financial, product, and sales data via web services interfaces, batch interfaces, and interactive data-input procedures, transforms it into a common format and loads it into a data warehouse. iway Managed File Transfer (MFT), powered by iway Service Manager, automates multistep integration scenarios with complete auditing, notification, and security. All iway integration processes are reusable, so Scotiabank can leverage these ETL and MFT assets for other business scenarios involving these core banking systems. For example, the bank also used iway to streamline the development of a new liquidity system, which has 14 interfaces to legacy applications. Using the iway integration platform and adapters simplifies integration tasks for developers since they do not need to manually transform the data. The iway toolset has allowed us to be more productive by creating web services rather than writing a host transaction or transformation, Bekic explains. Scotiabank also plans to use iway business activity monitoring technology to automatically update the Sales Builder reports as key events occur, and iway MFT technology to further automate the movement of large volumes of data. Bekic and his team are also exploring iway Data Quality Center to improve the overall accuracy of customer information and to simplify regulatory issues. Our partnership with Information Builders is very important to us, Bekic concludes. It s a constant learning environment, and we see our progress as a win-win for both companies. Information Builders 13

16 Pershing LLC Pershing Provides Financial Insight to Broad Base of Busy Brokers Business Applications Scale to More Than 75,000 Users r ce Product Risk and Compliance Operations and Finance When it comes to business intelligence (BI) technology, Pershing LLC has learned an important lesson: always orient your information systems to the way people work, rather than forcing workers to orient themselves to your information systems. This reasoning reflects a growing trend in the BI industry a desire to break down the barriers between BI technology and casual users, or consumers, of information. Sure, professional analysts still need general-purpose BI tools so they can create custom reports. Information consumers, on the other hand, generally want to submit simple queries and receive answers in the context of their day-to-day activities. Most people don t need multi-page reports or powerful ad hoc analysis capabilities, says Patrick Yip, a director in the Technology Group at Pershing LLC. In fact, casual users shouldn t have to interact with BI tools at all. Instead, they prefer targeted information that has been embedded in their familiar business applications. It s generally more effective if the BI technology operates under the covers. With this premise as its guiding principle, Pershing s business intelligence environment, built using Information Builders WebFOCUS software, does much more than merely generate month-end reports for managers and executives. It also delivers aggregate views of account balances, financial holdings, and trades to tens of thousands of business users, right 14 Retail Banking Business Review

17 Organization As a leading provider of clearing and financial services outsourcing solutions, with more than $800 billion under administration, Pershing LLC serves more than 1,100 financial organizations and 100,000 independent investment advisors, who collectively represent nearly six million individual investors. The Challenge Find a way to deliver targeted analytical information to tens of thousands of busy brokers without requiring them to learn a report writer or deal with cryptic database technology. The Strategy Use WebFOCUS BI software to deliver real-time nuggets of intelligence within the context of Pershing s existing NetExchange Pro brokerage platform. Our BI environment gives us a competitive advantage for one simple reason: It offers insight into the daily activities of our customers. The Results A powerful BI environment that delivers accurate information about account balances, financial holdings, and trades to improve the customer experience. Information Builders Solution WebFOCUS. SNAPSHOT within their familiar broker workstation application. One of the main reasons our BI environment has been adopted so widely is because it does not require any special experience or sophistication, continues Yip. If you can order a book or make travel arrangements online, you ll find our BI capabilities very easy by comparison. We rarely get calls about how to access information or run reports because people already know how to use this type of system. Driven by Innovation Pershing is well known for its innovative use of technology, which extends to every facet of its operation. As a leading provider of clearing and financial services outsourcing solutions, the company serves more than 1,100 financial organizations and independent investment advisors, who collectively represent nearly six million individual investors. Pershing has more than $800 billion under administration. Yip works in the eanalytics group, where his staff focuses on creating data warehouse and business intelligence solutions. In recent years, much of their effort has been devoted to adding analytical capabilities to Pershing s NetExchange Pro online brokerage platform, which is used by more than 85,000 investment professionals around the world. Previously these investment professionals could only access customer information via hard copy reports or standard files containing all their data, which they had to manage and use on their own. NetExchange Pro had some rudimentary reporting capabilities, but they were geared toward accessing information one account at a time or one investment professional at a time. As a result, many of these external users were requesting custom reports from Pershing s IT department, which was putting a drain on programming resources. Getting a hold of this same type of information used to be rather tedious, Yip admits. Either users had to create their own databases and manage daily downloads of data, or they had to weed through hard copy reports and manually input information into spreadsheets to analyze the data. Our customers were telling us that this was not an optimal way to analyze their business. A New Mindset for BI Yip knew it was time for an upgrade. To attain his vision of business intelligence without barriers, he needed a highly scalable BI environment that could provide targeted information on demand. As he laid out his vision for an ad hoc reporting environment that could be accessed from within the NetExchange Pro platform, he singled out WebFOCUS as the right technology for the job. This comprehensive BI platform had the parameterized ad hoc reporting capabilities he was looking for, and it could be seamlessly integrated with Pershing s existing software infrastructure. We had three main criteria in a BI platform: scalability, security, and ease of integration, Yip sums up. Whenever we pick software, the number-one thing we look for is scalability due to our large, widely dispersed user base. Security is important because our investment professionals trust us with sensitive financial information. And integration influences everything, since we wanted to embed BI capabilities within our existing broker workstation environment. WebFOCUS satisfied all of these requirements. Information Builders 15

18 Yip says the learning curve for WebFOCUS is higher than for some other BI tools, but the payoff is a more comprehensive environment for data integration, reporting and BI. Once you get up to speed with the WebFOCUS software, you find yourself with a very robust and scalable business intelligence environment, he reports. In addition to graphical reporting capabilities, it has its own programming language, which gives you a lot of flexibility. One of the main reasons our BI environment has been adopted so widely is because it does not require any special experience or sophistication. If you can order a book or make travel arrangements online, you ll find our BI capabilities very easy by comparison. Pershing installed WebFOCUS on a Unix platform along with Oracle Database 10g, where about 1TB of customer data is stored. Developers created a dual-purpose architecture that allows brokers to either use a browser-based or a Windows-based version of the NetExchange Pro software to access BI capabilities. A few clicks of the mouse generally yields the information they are looking for. Since we standardized on WebFOCUS for enterprise reporting, our BI environment has become much better integrated, says Yip. It offers much greater flexibility, and there have been no scalability issues. We have made the look-and-feel very consistent with the rest of our broker workstation platform. This saves time and improves efficiency for our customers, especially at the end of each month when they are reviewing the numbers. In addition to analyzing historical data in a warehouse, Pershing s BI environment can access data from the firm s operational systems to perform real-time analytics. The same BI applications access aggregate data to help managers keep tabs on how many of those transactions are being requested, how many have been processed, and how many are pending. It also helps them submit what if queries associated with customer accounts, such as show me a list of all customers who have bonds maturing in the next 30 days. Pershing also uses WebFOCUS to manage service levels for investment managers through custom scorecards, a highly visual way to monitor broker performance. Within this real-time BI system, operations managers can identify where work is building up in different queues and react accordingly. They can also use this information to develop scorecards for customers a handy way to discuss service levels during account-review sessions. BI technology is quickly becoming an essential part of the way our company does business, Yip says. From Provider to Consultative Partner Some of Pershing s customers are so enthusiastic about the new BI capabilities that they are partnering with Pershing to develop their own personal BI and data warehouse solutions. To meet the needs of these customers, Pershing formed a new company called inautix USA. Our BI software has become more useful and more popular, confirms Yip. We now have the data models and reports on which to build, and we re leveraging what we have been doing all along to create these personalized BI environments. When asked if he has any words of wisdom for his colleagues, Yip is quick to offer a few suggestions. The simpler you make your reports, the higher the adoption rate, he says. Most business users don t want to create their own reports. They want quick answers to common questions. Even people who do need complete reports want to be able to easily extract information that interests them, Yip adds. To meet the needs of these more advanced users, he suggests parameterized reports that let people qualify results based on variables such as geography, product, or timeframe. For example, Pershing s Account Profile report has all the parameters investment advisors need to locate and qualify information about their end customers. There is no need to fire up a report writer or submit a complex query. The technology is just another tab on the broker workstation. The Ultimate Payoff As Pershing breaks down the barriers between investment professionals and the critical financial information they depend on, the company is proving that BI can pay off on many fronts: technical, operational, and in the form of measurable financial returns. But the biggest payoff, says Yip, comes from the goodwill of its brokers, as attested to by the stellar adoption rate of its BI system. In a relatively short timeframe, more than 80 percent of its potential user base has adopted the new BI capabilities about 75,000 users total. We measure success in terms of customer satisfaction, Yip concludes. We have witnessed a very high adoption rate with our BI applications for one simple reason: the software makes a difference in what our customers do every day. 16 Retail Banking Business Review

19 Saudi Credit Bureau Saudi Credit Bureau Reduces Financial Risk With BI and ETL WebFOCUS and iway Enable Data Access, Integration, and Financial Reporting t ce Risk and Compliance Operations and Finance The Saudi Credit Bureau (SIMAH) is Saudi Arabia s first comprehensive consumer credit bureau. Ten Saudi banks created the bureau to offer credit providers financial services that would make it easier for the banking industry to make lending decisions more quickly and objectively. To collect, categorize, and analyze the requisite credit information, SIMAH selected Information Builders WebFOCUS and iway DataMigrator applications to craft an end-to-end solution that automates business intelligence (BI) reporting and data extraction, transformation, and loading (ETL) activities. Today SIMAH provides credit information about the Saudi market and offers a diversified portfolio of products and services for consumers and commercial businesses. As the first licensed credit reference agency in the Saudi Kingdom, SIMAH also has the Saudi Arabian Monetary Agency s (SAMA) approval to share bankingsector credit information a move that resulted in telecommunications and other industrial government funds being rolled in to the bureau. SIMAH s growing portfolio includes advisory and consulting services on credit policy and strategy, research services, credit rating, risk management, collections, credit decision systems, fraud prevention, alert systems, training courses and workshops, a specialized credit magazine, and customized scoring models. Information Builders 17

20 Accurate Reporting Enhances Services and Reduces Risk Led by Mr. Humaid Mudhaffr, chief information officer at SIMAH, the organization has created dozens of reports and several key dashboards to display management information, including dashboards for data quality, operations, audits, and statistics. Mr. Mudhaffr and his team worked with Information Builders to develop a comprehensive reporting system that meets the needs of multiple groups and constituencies. They integrated the WebFOCUS dashboards with an existing identity management system to control access for each user and group. Authorized users can log in to this analytic portal using their existing security credentials, explains Mr. Mudhaffr. They can view dashboards and generate reports in a variety of formats, including PDF, Excel, and HTML. iway DataMigrator refreshes the database each day to reflect all new transactions posted to the core credit management systems. As it loads the data, it structures it for fast reporting using predefined dimensions such as geography, industry, product, consumer, and time stamp. Information Builders gives us a secure way to easily combine, analyze, and deliver information. One of SIMAH s primary objectives is to boost the awareness of credit risks for businesses and consumers. To do this effectively, it must foster a national credit environment that is based on transparency and reliability. For example, the new BI environment supplies lending institutions with credit-scoring assessments, creditanalysis information, data on market trends, sales plans based on regional product mixes, and statistical analysis of current and historical financial information. Consumers come to SIMAH to determine how to monitor their credit exposure and to make sure they don t overextend their financial commitments. In addition to providing individual reports about personal credit status, SIMAH ensures that Saudi financial institutions do not breach established codes of conduct when dealing with credit applicants. SIMAH s audit team uses WebFOCUS to gather information from credit applications and to confirm that all of the correct details are in place. They also make sure that consumers know that their credit history is being checked when they apply for loans and other credit services. Our business revolves around information, so accurate reporting is very important to us on many levels, Mr. Mudhaffr emphasizes. The WebFOCUS portal provides insight that helps the financial sector to lend money more responsibly, with a clear view into consumer behavior, dependents, job security, and other details. iway ETL Solution Improves Data Management Performance Until recently, SIMAH stored all of its financial information in an IBM DB2 relational database on an IBM iseries computer. As the volume of data grew and its direct reporting activities began to impact the performance of other production systems, SIMAH decided to create a data warehouse for offline reporting and analysis. The bureau wanted to improve the reliability and availability of its information by maintaining a centralized copy with consistent report dimensions, so all users would get the same answers when they generate reports. The team chose to use Sybase IQ to create the data warehouse because its efficient data compression algorithms reduce data storage volumes and its column-oriented analytics support very fast queries. They selected iway DataMigrator and WebFOCUS to round out the reporting environment because they wanted a complete, end-toend solution. With help from an international team of consultants from Information Builders, Our business revolves around information, so accurate reporting is very important to us on many levels. The WebFOCUS portal provides insight that helps the financial sector to lend money more responsibly, with a clear view into consumer behavior, dependents, job security, and other details. Infobuild ME, Sybase, and IBM, SIMAH developed a complete project plan for establishing the system architecture, migrating the data, creating data dimensions, and designing specific data marts and data models. Then they used iway DataMigrator to load the DB2 data into the Sybase IQ database, which is hosted on a Microsoft Windows server. The beauty of iway DataMigrator is that it works so efficiently, Mr. Mudhaffr explains. It can extract, transform, and load the data about 50 times faster than the other ETL tools we were using. SIMAH also used WebFOCUS ReportCaster to schedule, run, and distribute daily reports to managers and executives as well as to deliver information to SAMA. Information Builders gives us a secure way to easily combine, analyze, and deliver information, Mr. Mudhaffr says. The central bank wants to become fully independent from reporting that comes directly from the banks. They want to use SIMAH as their data reporting source for all banking sectors. Building on a Solid Technical Foundation SIMAH s impact on the credit market in the 18 Retail Banking Business Review

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