Korean brokerage firm Hyundai Securities has selected Teradata to provide it with a data warehouse, which will include Teradata 12 Database and the Teradata Active Enterprise Data Warehouse 5550. The firm, which has been using Teradata’s data warehousing technology since 1999, is planning to use the new technology to build a real-time enterprise data warehouse.
According to Hyundai Securities, the new system will allow it to enhance its securities brokerage for both domestic and foreign investors, asset management, investment banking and customer service. Kim Chang Sik, deputy manager, Hyundai Securities, explains: “We are now striving to redefine ourselves as a global player by enhancing our asset management and investment banking businesses.”
Kim describes Teradata as “a natural choice” and says that a major factor in the selection process was the vendor’s low total cost of ownership. “The total cost of ownership is important in terms of long-term execution of Hyundai’s strategy,” he adds.
Con Vass, country manager for Teradata Korea, comments: “Hyundai Securities’ business intelligence and analytics capability will significantly improve with the combination the world class Linux platform and Teradata 12 Database. Hyundai Securities has been focusing on product development and collecting customer deposits since the enforcement of the Market Consolidation Act. As a business partner, Teradata will support Hyundai Securities with our technology and know how to help transform the vast amount of data being collected into a competitive advantage. This will enable Hyundai Securities to be a more agile and customer focused. Teradata technology will enhance strategic decision making, as well as push business intelligence to front-line customer service representatives.”
In the vendor selection process, Teradata competed with IBM/DB2 and HP/Sybase. After a comprehensive review of each vendor’s solution, Hyundai Securities decided to adopt the Teradata Active EDW and the Teradata 12 Database based on performance and availability, says the firm.
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