WebFOCUS and iWay software to allow instant responses to requests from the Central Bank
Information Builders, a business intelligence (BI) offerings provider, has said that Alpha Bank, one of the largest financial services companies in Greece, has deployed its operational reporting and enterprise integration environment.
The deployment is expected to deliver information to bank regulators and help users react quickly to changes in global financial markets.
Alpha Bank is using Information Builders’ technology to fulfil requests from the Central Bank of Greece, maintain profitability, and preserve solid customer relationships, said Information Builders.
The company said that its BI and integration products are built on a common architecture that helps the bank streamline everything from data acquisition to information delivery.
Alpha Bank MIS division manager Dimitrios Dassios said, "We now have daily accurate and very detailed information on a customer’s account level."
"During the heart of the crisis, reports that we used to create on a monthly basis suddenly needed to be delivered to the Central Bank daily. These reports would have been a nightmare to produce with our previous reporting environment, plus we were leery about the quality of the underlying data.
"Now, when top managers at the bank makerequests, we can provide the answers they need instantly and we know the data is accurate, " added Dassios.
Information Builders Financial Practice vice-president and principal Jon M. Deutsch said Alpha Bank has discovered the power of business analytics to discern patterns and trends in enterprise data, which can then be leveraged to facilitate faster, smarter planning and decision-making.
"Armed with current, accurate information, the bank can continually fine-tune its strategy and contribute fundamental insight to help with the nation’s economic recovery," Deutsch said.