French bank Banque Accord has rolled out a joint solution from data integration software vendor Informatica Corporation and data warehousing vendor Teradata. The bank, which is a subsidiary of the Auchan Group, decided to implement the joint solution to replace its fragmented data management systems architecture and therefore increase its efficiency and expedite its decision making processes, says Philippe Eymond, manager of urbanisation, architecture and internet service at Banque Accord France.
The new architecture covers the bank’s operations and its extended partner network and has introduced a unified view of each customer relationship across all products and channels. The plan is to be able to target new lines of business, cross sell and up sell financial services solutions to existing customers, and deliver a more consistent service experience. The bank also hopes that integrating information across the business will enable it to reduce the costs associated with running multiple data integration solutions and diverse business intelligence tools. Ultimately, it hopes the joint solution will help reduce the costs associated with infrastructure, development, support, maintenance, and change management. “This standardisation on Informatica is a landmark step in the bank’s journey to becoming a more agile, efficient, and customer-focused financial services provider. By unlocking crucial data and making it available in real time to everyone in the business, Banque Accord will be poised to target new customers and better serve existing ones, grow revenues, and maximise the operating efficiency,” says Eymond. Teradata has experienced a tough few quarters, with a second quarter revenue decline of 7% as a result of the downturn in the financial markets. The appetite for investment in large scale data warehousing projects may be gradually picking up as a result of the door cracking open on data centralisation projects within financial institutions, but it is likely that a few more tough months (at the very least) are ahead. Earlier this year, Informatica completed the acquisition of complex event processing (CEP) software vendor Agent Logic. The acquisition was aimed at enabling the vendor to respond more rapidly to data driven events, according to Sohaib Abbasi, chairman and CEO of the data quality focused vendor. A CEP solution could lend itself to achieving better levels of risk management by keeping up with this data flow and identifying potential opportunities and threats, says the vendor.