Information Builders, the leader in enterprise business intelligence (BI) and real-time Web reporting, today announced that The Co-operative Bank has selected WebFOCUS to provide its corporate and business banking division with real-time business performance, sales and marketing reports.
WebFOCUS will enable The Co-operative Bank’s corporate and business banking division to assess the performance of its financial services and target and measure customers’ needs more accurately, as well as meeting challenging industry regulations in less time and at a substantially lower cost.
The Co-operative Bank will use WebFOCUS to interrogate data residing on its mainframe. Scheduled WebFOCUS reports will then be run against DB2, VSAM and FOCUS data sources and be distributed automatically via email to over 100 users in the corporate and business banking division.
Peter Neild, business planning and profitability management adviser at The Co-operative Bank said: “The banking industry is competitive, fast moving and highly regulated. Our goal is to lead the way in the provision of customised financial products and new services, so we need to ensure that all strategic business and corporate decisions are based on real time customer and financial product information.
“We chose WebFOCUS as our reporting tool because of its user friendly GUI interface. It will provide us with more meaningful and presentable real time reports with a drill down facility, which we will be able to push out to a wider user database.”
Operating in a highly controlled and policy drive industry, The Co-operative Bank also faces the challenge of meeting changing industry legislation and regulations on a daily basis. The Co-operative Bank has a responsibility in liaising with the Bank of England to ensure that it is promoting a healthy stability in the financial system and that it complies with Bank of England policies and directives. The Co-operative Bank will also use WebFOCUS to ensure that all relevant corporate and business customer accounts are loaded with correct revenue rates.
Jim Irving, Information Builders UK managing director said: “The Co-operative Bank operates in an industry that is more diverse and unpredictable than any other. Through mergers, acquisitions, partnerships, and internal growth, financial institutions are racing to gain a competitive edge by entering new business areas and delivering more products and services. So delivery of business information to managers, employees, customers and partners is a vital ingredient to maintaining a competitive edge.
“With WebFOCUS as its business intelligence tool, The Co-operative Bank will be able to retain and expand its client base, improve customer-selling opportunities, and increase customer profitability through a better understanding of behaviour, needs, and preferences. They will also be better placed to manage the risk associated with investments, credit and lending, and bankruptcies.”
About Information Builders
Information Builders, a £160 million company, is the leader in enterprise business intelligence and real-time Web reporting. The company's WebFOCUS product the industry's most scalable, secure, and flexible is able to meet all the reporting needs of the extended enterprise, ranging from analysts to power users to the widest deployments for hundreds of thousands of users. Additionally, WebFOCUS' empowerment of organisations seeking to leverage all their data by accessing it all from legacy to data warehouse is unmatched.
Information Builders' award-winning technology has successfully provided quality software and superior services for 29 years to more than 12,000 customers, including most of the Fortune 100 and U.S. federal, state, and local government agencies. Headquartered in New York City with 90 offices worldwide, the company employs 1,750 people, and has over 350 business partners.
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