Banking is rich in one the most valuable assets in today's modern, digital world – data. Traditional banking data, such as demographic and transactional data, is now being coupled with vast volumes and varieties of new age big data, generated by digital footprints. The volumes are predicted to explode at unprecedented levels, as consumers and corporates increasingly turn to digital channels to manage their finances and when technology innovations such as the IoT (Internet of Things) begin to be embraced into daily lives.
For banks to succeed in this new digital era, they must exploit this data to enable them to drive customer-centricity, product innovation, competitor differentiation, profitable growth and crucial strategic decision making about the future of their organisation.
However, data is simply data with little value unless it can be exposed, accessed, analyzed and transformed into business intelligence. This presents major challenges for banks which typically have multiple product centric systems and no strategy for data exploitation. However, for the smarter banks that get it right, the opportunities are limitless.
- Overcoming data silos
- Increasing volumes and varieties of data
- Data accuracy
- Right information, right time, right place
- Integration to core systems
There is no truly digital bank without data. The Temenos unified solution for data and analytics
How our solution helps
Temenos Analytics will enable you to harness your wealth of data and transform it into valuable business intelligence, to support better decision making across the enterprise and to enrich all interaction with your customers.
By using banking specific, high-value, analytical applications in every department including Finance, Marketing, Operations, Treasury, and Risk Management, you will be able to transform into being analytically driven. This will give you a significant competitive edge in this new banking landscape and digital world.
By using Analytics you will be able to:
- Empower business users with self-service access to accurate data providing a single version of the truth, driving smarter decision making faster and with better business outcomes
- Embed intelligent analytics into your core system, to enrich every customer interaction and boost customer engagement with a superior user experience
- Provide customers with contextual, relevant product offers and advice at a time when they are most likely to buy – improving cross selling, value of customer and customer loyalty
- Integrate analytical capabilities directly into your core banking and other applications, making those applications, and their users, smarter and more efficient
- Improve ROA (return on assets) and Profitability up to 30 basis points
Temenos Analytics takes a three-tiered approach to help your financial institution obtain the perfect tailored solution. The first tier offers “Platforms”, which is determined by the requirements of the financial institution and where you are in your analytical roadmap. The second tier offers “Add-On Modules”, which extend the capability of our platforms with advanced analytical capabilities. This allows you to pick and choose certain value-add features for current and future needs. The third tier provides “Content Packages” that break out our dashboards, analytics, KPIs, cubes and reports to align directly with the available Temenos Suites giving you the option to purchase analytical and reporting content for the type of banking that you do.
Country pre-packaged solutions with built-in best practice processes are available for fast implementation, meeting local and global regulatory requirements, which can also be easily extended to meet specific needs. Flexible deployment models are available both on premise and for SaaS deployment utilizing the secure and trusted Microsoft Azure Cloud.
All financial institutions are different, which is why we offer different platforms for Analytics so financial institutions can customize the solution packages to the needs of their organization. Choose from the Reporting Platform or the Advanced Analytics Platform based on your financial institution’s size, strategy, roadmap or the level of analytical sophistication needed.
We’ve broken out our reports, KPIs, dashboards, datasets and cubes into content packages to align with the available Temenos Suites. Currently, available are Advanced Analytics Platform content packages for Temenos Suites such as Retail, Wealth and a Financial Analytics Package for a financial institution utilizing ANY Temenos Suite.
Publish analytical APIs using no code and make this data securely available to any consuming applicaiton.
Mash-up powerful and engaging dashboards using content from the Analytics content packages.
For clients that have purchased Temenos Digital Engagement, this application integrates data from Core Banking in near real-time providing immediate and continuous monitoring of their digital campaigns.
Enable a 360-degree single view of the customer empowering your front line staff to recommend relevant offers and advice, increasing cross selling and quality of service.
The predictive analytics platform provides data discovery, data mining and predictive modelling capabilities. Also available are modules for Next Best Product, Customer Lifetime Value and Customer Attrition.
Out-of-the-box add-on modules focused on customer profitability calculations which includes funds transfer pricing and activity based costing modules.
How it's delivered
Temenos Analytics modules are built on the market leading Microsoft BI Platform, which is positioned as a Leader in the Gartner MQ for Business Intelligence and has been for the last 4 years.
Analytics includes pre-built banking focused business content such as data models, reports and dashboards specifically developed for all key stakeholders and business users within financial services. The solutions can easily be extended and customized to meet specific needs. This means that Temenos can ensure rapid deployment at much lower cost and risk to other approaches and that the customer can quickly realize business benefits.
The solutions are fully integrated with Temenos Core Banking and form the basis of our 'Experience Driven Banking' solution when integrated with channels and front office modules.
Temenos provides flexible deployment models, such as multi-company/multi-book which can be deployed on-premise or off-premise, providing you with complete choice and flexibility.
We work with a global network of leading business, technology and services partners, to reduce implementation risk, enable a faster time-to-market and continue innovation.