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Business Intelligence in Retail Banking (Technology Focus)

Product Type: Market Research Report
Published by: Datamonitor
Published: December 2007
Product Code: R313-29389
Description
Introduction

Growth of data volumes in disparate sources, ongoing regulatory changes and growing technology capabilities are driving financial services organizations to increase investment in business intelligence technologies. Banks must align intelligent technology with data management techniques in order to improve their decision-making processes.

Scope

Covers the European, North American, Asia-Pacific and Middle East business intelligence in retail banking segment Areas covered include the competitive and regulatory environment, as well as the need for stronger management

Highlights

Regardless of the route banking executives decide to choose, if the data foundations of the financial services institution are not reliable enough, either the best-of-breed or best-of-suite strategy may lead to equally unsuccessful results. The main benefits business intelligence systems bring to any bank are their abilities to provide a deep understanding of past and current operations, and forecast future events. Technology providers need to completely understand the bank's information flows in order to provide the right information, to the right person, at the right time, and in the right context.

Reasons to Purchase

Gain visibility into the dynamics of the retail banking business intelligence market Gain market insight to assist in your strategic planning and go-to-market strategy.
Table of Contents
DATAMONITOR VIEW
CATALYST
SUMMARY
ANALYSIS
The sourcing strategy must be aligned with needs and resources
Best-of-breed
Best-of-suite
It is a necessity to start BI projects with a proper data foundation
Banks must develop a comprehensive end-to-end BI platform
BI tools are spreading out among various banking applications
End-to-end business intelligence platform becomes a necessity
Banks require a consistent and standardized approach to developing an integrated and fully automated BI platform
Required architecture for automated delivery
End-to-end integration
Conclusion for vendors and banks
APPENDIX
Definitions
Methodology
Further reading
Ask the analyst
Datamonitor consulting
Disclaimer
List of Figures
Figure 1: Best-of-breed versus best-of-suite strategies and associated risks and rewards.
Figure 2: Business intelligence platform in retail banking
Figure 3: Example of a reporting tool - Operational dashboard delivered by Cognos (IBM)
Figure 4: Gathering, analysing and utilising data should be an automatic and continuous exercise


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