Global banks are adapting fast to a changing world. With new compliance rules from the US and tighter regulations nearly everywhere else, there’s a lot to keep up with. Clients might not see the big differences up front, but behind the scenes banks are scrambling to upgrade security, analytics, and reporting. So they can build better banks that make better decisions for the future.
One of Latin American largest banks knew it was time to refresh their IT systems to keep security, analytics and reporting in order. Their main goal was a single source of trustworthy data for compliance, analysis, and decisions. After all, there’s no point in planning if you can’t trust the information you’re using. That just means wasted time and money.
Their first step was to get the right team on the job. For this bank, which operated across times zones and oceans, that meant getting a team that had the skills and knowhow to make preparing and sharing information around the world as easy as passing it to the next desk over.
Their new team started with us: SAS. For 40 years, we’ve been helping companies of all sizes, all around the world get the most out of IT systems. We knew the client needed some specialist assistance on the services side, like the US-based Cloudera – for its Hadoop cloud analytics software – and India’s Tata Consulting Services – for IT and business processes knowhow. And we made sure the client avoided transition issues by sticking with the proven Cisco hardware they were already using.
The solution we put together started with SAS software like Enterprise Miner and Grid Manager. That was backed up by Tata’s process knowhow and Cloudera’s analytics expertise. And everything ran on the ever-reliable Cisco Unified Computing System servers. The client knew what data they had, and that they could trust it.
Now, the client meets all US compliance rules. And thanks to new analysis tools, different teams can share and reuse reports, which saves time and money. That’s shaved the turnaround on reports from weeks to just a few hours. In the process, the client has cut licensing, maintenance, and support costs. That’s all part of building a better bank for its clients.
The story doesn’t stop there…
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