BI for BFSI Industry: Out-of-the-Box, Comprehensive Analytics!
Financial Services, Banking, Insurance and other finance-related industries are always working with numbers, statistics and data. When it comes to planning, analysis for business forecasting, identifying trends and patterns, anticipating risk and fraud, an analytics tool for banking, analytics for financial services and analytics for insurance should be out-of-the-box with functionality that is designed to make it easier for an enterprise to operate without customization or time-consuming, expensive changes.
Banking, financial services and insurance industries are sophisticated and complex and they are subject to significant regulation. These types of businesses generate mountains of data. For the enterprise that participates in one or more of these markets, it is important to stay abreast of changes in the market, changes in competition, and customer buying behavior and regulatory changes.
BI for Banking, Financial services & Insurance helps an enterprise achieve an integrated view of data across all systems and data sources in order to provide up-to-date data for analysis and decisions and focus on a secure transaction environment to ensure compliance and protect confidential and private data.
To be successful in this environment, an enterprise must establish and monitor appropriate KPI for BFSI Industry, and identify and support profitable customers, improve operations at the grass roots level and achieve true Business Intelligence for BFSI Industry planning and analytics to understand and improve portfolio performance and predict and forecast results based on trends and business patterns.