RosEuroBank has Launched Operational Data Visualization System
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FORS has announced the deployment at RosEuroBank of the comprehensive analytical and operational data visualization system based on Oracle Business Intelligence Foundation Suite platform. What makes this project special is the implementation of the classic BI in tight liaison with Oracle Hyperion Essbase – an OLAP (Online Analytical Processing) Server that provides an environment for deploying pre-packaged applications or developing custom analytic and enterprise performance management applications of any level of complicity.
The project had lasted about a year. From the beginning of 2013 it was put into an industrial operation. Newly built BI-tools have proved their extreme efficiency very soon, being involved for use on a daily basis by the Bank employees of the different levels and Departments, including Top Management.
Before the project has started, the customer run a heterogeneous local reporting systems and corporate data base, which were not consolidated into one and integrated with the whole Bank IT-Infrastructure. Therefore, business Departments had composed their reports containing the same data, but processed by the different algorithms, what caused nonoccurrence at the data summary. As the amount of the reporting documentation grew up, it got visible the necessity of applying of the standard industrial platform, for which it was chosen Oracle Business Intelligence Suite as meeting all the specific Bank requirements. The vast FORS banking experience, brilliant skills in the implementation of BI-solutions and deep expertise in their development determined the customer’s final choice of the integrator.
Very important reporting documentation blocks were fully automated, including the regulatory balance, percentage balance and other reporting forms for the specific types of activities. IT-Department of the Bank has created by itself the reporting forms on profits and losses for the Top Management use. Implementation of the comprehensive analytical system provided easy switch to the single reference books and algorithms, due to which variance in reporting summary was cleared up and the amount of the reporting duplicates was minimized. The functionality of Essbase provided extreme productivity: the processes of the data reception and the deployment of the hierarchies proceeded several times faster, than it had been with reports, generated by the SQL-requests to the relational OLAP.
Anthon Salamatov, the Head of the IT & Analytical Systems Development Department of RosEuroBank, remarks: «We‘ve made a solid foundation for the creation of the fully consolidated banking reporting. This project allowed us to eliminate work with the plenty of reporting files, to provide a single point of access to the reporting documentation for all users with the different levels of access rights, and to minimize the variance in the presenting of the same data by the different Departments».
Users were trained by the best FORS tutors by the specially adopted program. Education process was based on the really operating reporting forms, produced by Oracle BI. And though just 3 groups by 7 people each have passed the training, the final amount of users got much bigger – dozens of people from the different Departments and managers from all levels use the analytical reporting forms on the regular basis.
It’s quite important to note that this project has been one of the few, where the basic functionality was involved the most – at the level of 80-90 %. Such an impressive result could never be reached without the devotion and total support of the customer’s team, which cooperated very closely with FORS specialists at all work stages. Coordinated activities of them both guaranteed success in breaking through all challengers and helped to find the original and effective solutions under tough terms and conditions.
Bank has got a flexible, reliable and easy for use instrument, which enables the customer to develop the system independently, creating new reporting forms if required. In the nearest future the regulatory reporting of the whole Bank would be transferred to the single BI-standards. Analysts would be able to make their own reporting forms based on the standard model of the data domain.
In a far perspective dash-boards for online analytical processing would be available for the Board of the Bank Directors. Apart from that, it is planned to implement budgeting and planning system based on Oracle Hyperion Planning that will make the functionality of the existing BI-system even more sophisticated and complete.