Some things take a long time to perfect. Financial Reporting shouldn't be one of them.
The Finance Department within PTSB relied on a combination of Excel and Access databases to produce over 200 reports on a monthly basis. This manual task took between 30 minutes and 2 days per report which was both highly labor intensive and lacked flexibility, was prone to errors and as regulatory requirements increased, placed further pressures on overstretched resources.
BackgroundThis Major Bank is a leading provider of financial services in the market enjoying strong market positions in life and pensions, asset management and retail banking. Codec-dss engaged with Group Finance within the bank in February 2013; around the implementation of a tactical solution for group finance.
Codec was engaged to implement a tactical solution which was to be developed on a SQL Server platform with Oracle Essbase and Oracle Business Intelligence Enterprise Edition (OBIEE) as the core reporting tools.
After a lengthy requirements and analysis phase, Codec defined a set of requirements for Group Finance which would deliver what is known as the Tactical MI (TMI) solution.
The TMI solution consists of a number of the following Essbase Cubes
• Loan: This contains daily metrics for the complete loan book in the bank, including Mortgages, Unibanks Mortgages, Credit Cards, Term Loans and Overdrafts.
• Deposits: This contains daily metrics for all deposit accounts within the bank.
• GL: This contains a full P&L and Balance Sheet sourced directly from SUN GL and refreshed every 15 minutes to ensure near real time for the Financial Account team.
• Planning: This cube is used for OPEX planning for the RAF’s within the bank. It contains Actuals and each cut of RAF.
• Payroll: This cube is used for payroll panning by employee.
Codec has worked successfully with the banks finance department on delivering a model that caters for Group Finance requirements as well the Oracle toolset requirements. This data warehouse stores all the data which is available in the above cubes at customer account level detail.
OBIEE is the Business Intelligence (BI) reporting capability that sits on top of both Essbase and the FRDB which allows for seamless drill through from the aggregated data stored in the cubes to the customer account level detail stored in the FRDB.
In addition to this, Codec has also provided reporting capabilities to sit on top of the Corporate Deposits and OPIC’s source systems.
“Previously we had continued and varied dependency on data feeds from core banking systems with resulting IT Resource
constraints due to multiple and overlapping data feeds between Core Banking Systems. Oracle Business Intelligence Foundation Suite has given us the Systems Solutions we needed to do our jobs into the future.”