Financial institutions are loaded with abundant data, both internal (i.e. customer data, business data etc.) and external data (i.e. regulatory compliance, data from social media etc.). Technology has helped financial institutions to manage their data efficiently. Recently, banks have been investing in business intelligence tools to ensure a continuous flow of data. This enables them in deciphering and analysing it and generating real-time reports that lead them to make informed business decisions.

Outline of Business Intelligence Solutions in Banking

Business Intelligence is a methodology adopted by banks to address customer and business challenges across the banking landscape. BI reporting tools analyse raw, semi-structured and unstructured data available in CBS database to provide meaningful insights for making business decisions. BI and analytics solutions serve as support systems that identifies patterns, provides situation analysis and assists in strategic planning. They also help banks in introducing innovative products/services, reduce costs and mitigate risks thereby expanding business opportunities.

Business Intelligence solutions aid financial institutions to reinvent themselves and discover ways of attaining continuous competitive advantages.

Bussiness Intelligence

Benefits of using Business Intelligence and Analytics in Banks

BI tools help in structuring a strategy that is right and can deliver quick, accurate results within the defined timeframe. It makes sure that the efforts are utilised right where required, so as to maximise returns.

Few of the benefits of using BI in banks are:

  • Strategize banking operations
  • Predict costs, expenses and profits
  • Analyse product/service/branch expansions
  • Provide insights on prospective mergers and acquisitions
  • Conduct customer researches
  • Promote need-specific financial services.

Sesame’s BI solution – BEACON ACE

Sesame’s state-of-the-art innovation, Beacon Ace is an intelligent solution that exploits latest technologies and is capable of extracting insights from all sorts of data (new or obsolete; structured or unstructured). Our team of experts has leveraged their expertise and knowledge of over two decades to build this solution that is proven for maximising RoI.

Key Highlights:

  • Tracks past and future trends to follow data-driven decision-making approach.
  • Abides by all government defined mandates and policies.
  • Automates business processes for accuracy and efficiency in routine operations.
  • Discovers opportunities and areas for investments in the future.

To know more in detail about Beacon Ace and its functionalities, click here.