
How a Top Bank Transformed Financial Insights with BI Connector
About the Company
This client is one of the largest independent depository institutions headquartered by assets in Florida. Recognized as a leader in its field, the client was ranked third in Forbes magazine’s “Best Bank in America 2015” list. They achieved significant benefits by leveraging BI Connector to enhance their data analysis capabilities.
The Problem: Tackling Financial Data Challenges
In a dynamic financial landscape, the client faced the challenge of efficiently analyzing financial risks and customer data to derive actionable insights. They needed a solution to:
- Streamline the analysis process
- Significantly reduce the time spent on ad-hoc analysis
- Minimize the potential for human error
This dual objective aimed at enhancing operational efficiency and making the data handling process more seamless and reliable.
The Solution: BI Connector to the Rescue
By adopting BI Connector, the client was able to create ad-hoc visual analyses of OBIEE data like never before. Even complex OBIEE reports, difficult to recreate from scratch in Tableau, were seamlessly brought into the data visualization tool. A senior financial analyst at the company noted, “Some of the existing OBIEE reports are so complex and difficult to recreate from scratch in Tableau. BI Connector makes life easier for our users.”
Previously, if the interest rate and yield for loans fell below target, it required multiple emails and phone calls to identify the root cause. With BI Connector and Tableau, they can now drill down to the underlying loans with low interest rates and answer these queries in just a few minutes. BI Connector also enabled users to eliminate manual, time-consuming steps for analyzing loan portfolios. They can analyze and visualize trends in loan origination, purchases, interest rates, and yield rates in real time with minimal effort. Automation has also improved the accuracy and consistency of data by eliminating human errors.
The Outcome: Enhancing Real-Time Loan Portfolio Analysis
The client achieved all their objectives while improving their workflow. They were extremely impressed by BI Connector’s robust features and excellent customer support. The impact was profound, resulting in:
- Time Savings: The substantial reduction in manual data refresh time resulted in significant time savings, allowing the client to redirect their efforts towards more strategic initiatives.
- Operational Efficiency: With streamlined processes and access to comprehensive insights, the client experienced enhanced operational efficiency. They were better equipped to identify trends, address issues proactively, and make informed decisions to drive organizational success.
- Reduced Errors: Automation minimized the risk of errors, ensuring data reliability and accuracy.
- Enhanced User Experience: The ease of use and integration capabilities of BI Connector significantly improved the overall user experience, fostering a culture of self-service and empowerment among the users.
The client’s ability to analyze and visualize trends in real time without manual effort led to a noticeable improvement in productivity and decision-making.
Industry
Banking
Headquarters
Florida
Employees
1,000-5,000
Reports per Month
400
Connection
OBIEE - Tableau
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