Speridian’s Beacon Data Analytics Solution re-imagines corporate reporting
A large Cooperative Bank with a long history and extensive amounts of client information trapped in multiple systems.
Our client was bound by the inability to gauge trends and historic information. This limited their success in making operational improvements or to making effective plans.
After careful review, we recommended adoption of the Speridian’s Beacon Data Analytics Solution.
- Speridian’s Beacon Data Analytics solution is an Analytical Control Engine which extracts data from the Core Banking System to use for enterprise reporting
- The data set is integrated, meaning one source of truth
- Data configured in multi-dimensional cube, allowing it to be viewed from different angles and perspectives
- Provides Dashboard, Adhoc, and scheduled reporting
- Lower maintenance support costs by retiring silo systems
- Speridian’s Beacon Data Analytics solution is an Analytical Control Engine, which bolts on to existing core banking system.
The business impact was substantial. By integrating their historic and current data into a single engine, a single source of truth was created. This allowed meaningful longitudinal reporting to take place for the first time and a host of new functionality that has changed their business.
- Reporting is all now performed from one easy to use system
- It became possible to report on live information
- Reports are easily configurable and allow for information to be sliced, diced, and contrasted in numerous ways
- Key Performance Indicator tracking was implemented
- Operational costs could now be compared accurately to business activities
- Reporting standardized by Specific Period, Adhoc, or At-a-Glance
- Trend analysis and predictive reporting became viable options
These changes made a radical improvement to the bank’s ability to measure current trends and performance, and to create meaningful and measurable plans going forward.
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