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“Follow the money!” describes the financial services industry. After all, financial services, as an industry is all about money. It includes banking (savings and loans, commercial banks, mortgage banks, credit unions), securities and exchanges (brokerages, investment banks, investment advisors) and international finance (currency exchange, foreign investment).
With increasing competition, consolidation and global expansion, the financial services landscape has been changing at a dizzying pace. Industry consolidation has reduced the number of players in the market but deepened the capabilities of those remaining, making it more important than ever for firms to differentiate themselves in the market. As companies merge, there is a critical need to integrate data from disparate sources and systems. Combined with increased regulation and consumers that are less loyal to products that they view as commodities, financial services firms are experiencing increased operational pressures.
Customers want efficient, inexpensive, personalized services available through a variety of channels. New regulations require frequent, accurate financial compliance reports and diligent monitoring for illegal activity. Financial services institutions are striving to meet these demands and balance them with increasing costs, tighter budgets and controlled risk.
Success is possible for companies that can make sense of the vast quantities of data at their disposal. With BI Consulting Group’s business intelligence (BI) solutions, forward-looking financial institutions can benefit from accurate and timely information to maximize profitability and manage risk, thus achieving greater shareholder value and competitive advantage.
BI Consulting Group’s consultants can develop and implement robust BI strategies and applications that will allow your organization to efficiently combine, store and analyze its key business data. We have extensive experience in meeting the financial business intelligence and data warehousing (DW) needs of financial institutions in the following areas:
Our solutions empower financial services executives to make better and informed decisions by unlocking the value of their business intelligence. To learn more about, how we have overcome BI challenges in different organizations, please contact us.