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changing regulations and the risks of everyday business. © Panorama Software 2011 . Success is possible ― for companies that can make sense of the vast quantities of data at their disposal. But one old rule still applies: survival of the fittest. Combined with increased regulation and consumers that are less loyal to products that they view as commodities. thus achieving greater shareholder value and competitive advantage.Accurate and timely intelligence to maximize profitability. to manage risk and to improve customer relationships. realize greater business results through the management of channel communications. When applied to financial services. financial strategies and IT infrastructure. personalized services available through a variety of channels. tighter budgets and controlled risk. consolidation and global expansion. With increasing competition. human resources. New regulations require frequent. Customers want efficient. the financial services landscape has been changing at a dizzying pace. Those who want to survive ― and thrive ― will have to move fast to keep up with customer demands. inexpensive. ensure the financial health of the organization by managing key tangible and intangible assets. forward-looking financial institutions can benefit from accurate and timely information to maximize profitability and manage risk. Industry consolidation has reduced the number of players in the market but deepened the capabilities of those remaining. With Panorama Software’s powerful Panorama Necto business intelligence (BI) solution. the power of BI can: create a complete view of customers and products to maximize customer lifetime value while improving customer acquisition and retention rates. improve capital allocation and manage risk by accurately calculating and aggregating risk measures across the enterprise. As companies merge. there is a critical need to integrate data from disparate sources and systems. financial services firms are experiencing increased operational pressures. Financial services institutions are striving to meet these demands and balance them with increasing costs. accurate financial compliance reports and diligent monitoring for illegal activity. making it more important than ever for firms to differentiate themselves in the market.
Operational Risk For the financial services industry. As a result. organizations often end up chasing "phantom" risks that either aren't likely or aren't detrimental – while overlooking insidious and preventable losses. corporate wrongdoing. generate more revenue and. Using Panorama Necto BI capabilities to integrate your customer information can fuel your bank's growth. improve customer loyalty. By creating a single customer view. Despite these needs. organizations must find more effective ways to cross-sell and up-sell to new and existing customers in order to improve campaign response rates. The continuing explosion in transaction volumes and the demand for automation and speed have also escalated the cost of risk. and provide full visibility into the sources and logic behind report results. many financial institutions still operate under a silo approach in which business units maintain their own data. assess risk exposures and impacts across the branch or enterprise. traditional risk systems aren't equipped to capture complex interdependencies among a multitude of risk factors that span geographies. © Panorama Software 2011 . your bank can enhance analysis and planning. share intelligence through scorecarding. Panorama Necto enables financial institutions to measure and manage operational risk in a scientific way ― not just to conform to industry best practices and new regulations. These same conditions have eroded customer loyalty as well. mitigating risk is an inherent part of doing business. But in recent years. Even if they could be consistently applied across the enterprise. notification and custom reports. and improve the development and deployment of multi-channel cross-sell and retention propositions. many companies struggle with customer data scattered throughout the enterprise. Channel Renewal Given today's intense market pressures. leaving businesses to pay ever-increasing acquisition costs for customers who just bide their time until they find a better offer. but also for making sound business decisions. ultimately. Applying BI to the vast data collected throughout the organization allows banks to: establish a systematic framework for capturing risk factors and relationships. market uncertainty and turbulent capital markets have put the dangers of risk ― and the consequences of poorly managing it ― in the spotlight. making it impossible to get a clear view of customer preferences and behavior. departments and lines of business. Yet in the face of these pressures. analytics and assumptions for risk management ― frequently inconsistently.
and technology infrastructures for the remainder of the decade ― not to mention holding board members and executive teams personally accountable for levels of control and visibility into risk. And for anti-money laundering vigilance. The next steps are obvious. certify and improve compliance procedures and processes. BI empowers banks to automatically identify. © Panorama Software 2011 . Panorama’s BI solution can allowing financial institutions to define. the Sarbanes-Oxley Act and International Accounting Standards) have created a significant challenge and opportunity for financial services providers to grasp. Panorama Necto enables banks to satisfy the requirements of all three pillars of Basel II. then apply it to personalize offers and strengthen customer loyalty and profitability and create a smarter bank. classify and surface suspicious activities to meet stringent government regulations. These regulatory initiatives significantly affect policies.K. sales and service across all channels. calculate and aggregate market.. assess. Compliance Basel II and similar regulatory and compliance initiatives (such as the Turnbull Report in the U. and understand customer churn. informed marketing. protect shareholder confidence and maintain a strong reputation. yet revolutionary: share it for consistent.An advanced BI solution optimizes the management and use of enterprise customer data. and gathers customer intelligence from all touch points. For Sarbanes-Oxley compliance. communicate. processes. credit and operational risk measures. client and industry relationships. analyze it to identify best customers and segments. But much of the business and process infrastructure to address these regulatory initiatives is not in place or is at an early stage of maturity. and minimize efforts and investments in risk management.
Mitigate and Decrease Exposure to Risk There are a multitude of business reasons beyond regulatory concerns to adopt more sophisticated methods of measuring and managing risk in the financial services industry. bank managers and directors are not implementing risk management processes merely to satisfy regulators. The retail banking sector is also. Despite regulatory pressure. When implemented effectively. but one that is rendered almost pointless without consistent. And an additional benefit is improving productivity by empowering risk professionals to do more of their own analysis without recourse to IT. one of the most competitive in the financial services industry. and enhancing shareholder value. and operational risk information. In retail banking. a task which can be accomplished by tracking and monitoring Key Risk Indicators. cash balances. the greater challenge to a retail banking operation is analyzing and reporting risk assessments to identify priorities. With a powerful and flexible BI suite like Panorama Necto everyone from CEOs to line managers can access real-time information that provides a complete picture of exposures. when the organization enters a deal everyone knows what its limits are and there are no surprises. Then after compiling this data. Instead. Advanced BI capabilities from Panorama Necto transform data into risk information financial institutions can act on and avoid risk arbitrage ― the fallout from using processes and technologies where the risk is not measured effectively. liquidity and other risks. market. managing and reporting on operational risk events. capital management. of course. meaning there is little margin for error in assessing operational risk when it comes to managing loans. consolidated. up-to-date data. credit. the best measure of risk versus reward is risk-adjusted return on capital. Financial risk management in retail banking requires identifying the sources of risk. measuring risks and forming plans to address them ― a crucial exercise. they are doing it because it makes good business sense. That way. BI can also improve efficiency and reduce costs by having one reporting and analysis platform for all credit. operational risk management will transcend traditional audit and control processes and shift resources from bank compliance and crisis management to strategic planning. For financial institutions this creates the challenge of collecting. Indeed. © Panorama Software 2011 .
As well as hampering service. sales and service personnel should have a single tool for servicing customers that provides a consolidated view and includes all customer accounts ― including retail. With Panorama Necto. new scenarios can be implemented more quickly. By creating a strategic approach to channel renewal. banks can identify and attract profitable new customers through improved marketing. customers enjoy an improved experience as data is shared seamlessly and reliably across the Internet. widely dispersed operations to deliver a consistent. and account reporting and analysis. and improve agility to address new and unforeseen consumer expectations. lower training costs. higher customer satisfaction. while reducing the cost for delivering this support. and strategic planning.Improve Customer Experience With a renewed focus on growing the customer base and increasing loyalty. But there is hope in the form of powerful business intelligence (BI) technologies like Panorama Necto that unite entire financial institutions around front-line employees. allowing everyone from the datacenter and the call center. customer. data can be re-used. © Panorama Software 2011 . However. and issues can be resolved before they blow up. and new revenue opportunities through cross-selling and up-selling ― both in person and via phone center contact. Benefits include greater service efficiency. while at the same time institutions face increasing pressure to lower cost. this also greatly complicates the sales analysis of consumer activities that is necessary to determine what customers buy. teller and other channels. reporting. do not buy and why they leave. processes can be optimized. to the teller window to contribute to the high-quality experiences that attract. and now find themselves in the position of having to manage and update multiple channels to meet consumer demands. At the same time. Ideally. increased customer retention. cross-channel experience for their customers. As a result. many banks built their channels independently using heterogeneous solutions available at the time. and improve branch performance using branch analysis. call center. improve customer retention and customer service with household. retain and sell to profitable customers. This leaves each channel operating in its own silo of infrastructure and applications. banks now recognize customer experience as a key to meeting these goals. banks are determined to maximize the efficiency of large. and investment ― and a complete contact history. This is why technology analyst firm Gartner has recently listed resolving the channel and relationship management challenges as the top issues facing the banking industry today. credit card. ATM.
a growing diversity of regulations on a variety of levels — state. When making efforts to comply with SOX. placing more demands on resources. capital and risk management ― an onerous task if data is trapped in multiple silos. analyzing and reporting on risk information. Demonstrating good corporate governance for SOX compliance requires a similarly transparent view of bank accounting data from multiple sources. Basel II then requires institutions to be able to quickly and accurately publish enterprise-wide consolidated reports on risks. Providing reporting at this level is very time consuming as it involves wading through vast quantities of risk data relating to millions of customers across all their products. It is then possible to ensure the soundness of internal controls with reports on control status. anti–money-laundering reporting. BI tools deter the use of any loopholes or misrepresentation of data before a CEO can sign off on the data and attest that it is correct. The purpose of Basel is to revise the existing international standards used to measure the viability of a bank's capital. federal. international accounting standards compliance (IAS). To calculate the required capital adequacy and offer a transparent view of risk information. and international — now make up a patchwork of compliance requirements with sometimes overlapping applications. Implementing compliance will be costly for many. taking time to implement. For Basel compliance. giving executives one place to monitor © Panorama Software 2011 . Panorama Necto enables banks to consolidate mountains of risk data from systems and spreadsheets into a risk data warehouse. BI then identifies the overlapping information that needs to be available for inspectors and reports. Panorama’s advanced BI solutions facilitate the improvement of capital allocation by consolidating. Each of these emerging regulatory challenges ― Sarbanes-Oxley compliance (SOX). for example.Ensure Regulatory Compliance For financial institutions. financial institutions must store and maintain records dating back at least seven years and covering every part of their organization. This allows critical information to be captured and communicated across the company. and requiring additional funding if external expertise must be brought in. improvement plans and actions. and Basel II Capital Accord reporting for both internal and regulator use ― depend on demonstrating the transparency of financial and risk information and require the consolidation of vast amounts of data.
’s fourth largest mortgage lender and second largest savings provider. Nationwide is able to maximize its revenue on the available capital. and supports the quick and accurate production of consolidated reports. Nationwide is the U. but badly needed a solution to analyze vast quantities of risk data relating to millions of customers. counting 11 million members. © Panorama Software 2011 . Nationwide constructed a new data warehouse. This allows the organization to prove to Basel regulators that it has control and accuracy in managing its risk. and by doing so. accounting information and KPIs. Based in London. Using Panorama Necto provides Nationwide with a consistent single view of data for all user groups.K.priority out-of-bounds controls. To comply with its Basel requirements. It also gives analysts and accountants the access they need to drill down and explore data in granular detail.
Panorama has been a close and strategic Microsoft partner. 69719 Israel Phone: +972.416. EMEA and Asia.0085 © Panorama Software 2011 .416. which was rebranded as SQL Server Analysis Services and integrated into the SQL Server platform. delivering the only Business Intelligence application that is specifically designed for the Microsoft platform. Asia-Pacific 6.207.648. please visit www. Worldwide 164 Eglinton Avenue East Suite #100 Toronto. reduce costs and improve corporate performance by enabling social decision making and unlocking actionable insights contained within their data. Since that sale. Panorama Software offers a new generation of BI solutions that introduces a unique way to connect data. Dashboards/Workboards and integration with Microsoft Office/SharePoint.545. ON M4P 1G4 Canada Phone: +1. Raoul Wallenberg St. Social BI.panorama. Necto end-to-end BI suite includes Analytics. and maintains offices throughout North America. Panorama has a wide eco-system of partners in 30 countries.0990 Fax: +1.207. more efficiently.600 customers worldwide.3.887. healthcare.Panorama Software Panorama Software helps companies grow revenues. Leading the Business Intelligence 3. 5th Floor Ramat Hachayal Tel Aviv.709.9777 Fax: +972. Panorama Software is the original developer of the OLAP technology that was acquired my Microsoft in 1996.com.887.877.3.545. Automated Relevant Insights.OLAP.877. insights. including some of the world’s largest financial services. Necto is designed to work on top of any data source .5848 Fax: +1. and with greater relevancy.709.0877 United States 1230 Avenue of the Americas Suite #7109 New York. Smart Reporting.5888 Europe Berkeley Square House. telecommunications and media companies. London W1J 6BD Phone: +44. manufacturing. NY 10020 USA Phone: +1. Spreadsheets or In-Memory.6300 Fax: +44. Founded in 1993. retail.645. To learn more about Panorama Software. Panorama Necto™ is the first BI solution that leverages Social Decision Making and Automated Insights to enable users gain insights more quickly.0 revolution. and people in the organization.6100 Israel. 2nd Floor Berkeley Square. Relational. Panorama streamlines business operations through a Software-as-a-Service (SaaS) and on-premise BI solution for over 1.
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