IBM India/South Asia global business services vice president and managing partner Jeby Cherian said with the speedy outburst of big data, collecting, sourcing and analyzing real-time data from multiple sources is a growing challenge for banks.
Equipped with specialized planning features, and simplified data capturing, the technology will also enable the lender to comply with the evolving regulatory environment and uncover new sources of customer value, claims IBM.
"IBM’s solution will help convert data into insights that will enable better decision-making and risk management to maximize profits while enhancing customer loyalty," Cherian added.
IBM analytics has helped the Indian bank to switch from spreadsheet based planning to a smarter process that analyzes daily financial data based on actual performance and potential for growth.
The solution is handling the bank’s entire budgeting program by automating previous time consuming manual processes, which has helped the bank to slash planning cycle time by half and improve accuracy of financial reporting.
Subsequently, the lender is able to get a real-time insight on performance efficiency as well as the capability to track deposits, loans and non-performing loans data on a daily basis.
The bank has also deployed IBM’s Static Asset Liability Management Solution, which enabled it to cut liquidity risk and also minimize impact of interest rate and foreign exchange rate movements.
Further, the bank has also selected IBM’s Single Data Repository to get a consistent, 360-degree view of each customer behavior across all bank branch and product lines.
