Finalysis is a data warehouse and MIS solution for MoneyLine and other core banking systems developed and powered by South Atlantic Solutions. The product liberates the organization from the traditional reporting restrictions and provides a platform for information delivery which can significantly enhance decision making.
The development of this product is a continuing implementation of South Atlantic Solutions’ strategy to provide products which add value to all banks and add complimentary facilities not addressed within the most core systems.
Data warehousing is a concept which has gained mainstream acceptance over the last couple of decades. What is essentially a data repository created to improve reporting, provide meaningful information to the business and provide the ability for decision makers to analyse data as and when required has:
- provided many organizations with a strategic advantage
- improved the identification of, and response to, market changes
- improved corporate decision making
- improved understanding of who the customer is and underlying business dynamics
Finalysis reduces the complexity found in transactional or operational data and contains information useful to business people without the need for extensive interpretation. Generally data warehouses are complemented with a “business intelligence” product which assists in the extraction and reporting of data. Most business intelligence products allow the user the ability to view information graphically, change the parameters and filters of the report and provide levels of summarization with the ability to drill into the detail.
FINALYSIS DATA INTELLIGENCE BENEFITS
The Finalysis Data intelligence addresses many of the reporting deficiencies and complexities experienced by organizations with core engine reporting.
It also positions the organization to benefit strategically from the knowledge contained within the core system data.
REPORTING PROBLEMS AND ISSUES
Some of the known problems experienced within the Operational Systems reporting environment include:
- Balance mismatches in the general ledger
- Inability to properly regenerate the Balance Sheet and Income Statements to reflect the effect of backdated corrections
- Inability to provide management information reports with ease and accuracy
- Difficulty in producing most reports required by the Reserve / Central bank
- Inability to perform market analysis timeously
- Inability to present a consolidated trial balance when a bank has more than one system
- Difficulty in producing complex user report
These problems and others are fully addressed within Finalysis. In addition data from other systems utilized by the bank may be integrated into the Data Warehouse to produce consolidated reporting from a business and not a system perspective.
BENEFITS OF FINALYSIS
Benefits of the data warehouse include:
- Customer profitability reporting
- Central/Reserve Bank easy reporting
- Segmentation analysis and reporting
- Risk and Compliance improved enablement
- Assisting to attend to general ledger Balance Mismatches inherent in core systems
- Enabling the bank to produce one consolidated view of information of all operational systems. Data from other systems like Accounting, Payroll or Fixed Assets can be integrated into Finalysis for reporting purposes
- Improved management reporting and data mining capabilities. Report dimensions and filters may be changed interactively allowing exploration of the data. This assists in highlighting trends, analysing problems or aiding business understanding. As an example, attempting to analyse a bank’s arrears portfolio by various criteria would be difficult utilizing Core system reporting capabilities only.
- Simple interpretation of reports. Complex graphical reports with the ability to drill down into the detail may be created easily and as required
- Enhanced ability to effectively re-run a Trial Balance, Balance Sheet, Income Statement or budget analysis for a period in the past. This is especially of value for back dated corrections which are problematic within Core system. After a year end is run, it will possible to raise corrective back-dated transactions in Core system and to automatically re-compute the year end results.
- Enquiries done on Core system during peak periods or while a day end/month end is running impacts system performance. Using the data warehouse for enquiry purposes removes some of the workload from the operational system and also allows more complex queries to be run without affecting operations.
- Reports may be accessed via the Intranet or from any location in the world via the Internet (with the appropriate security restrictions).
- Report on financial statements with budget comparisons.
- User friendly system interface and interaction through Transforms (building block of execution plans). Each transform performs specialized operations and functions allowing non technical users to create their own queries and reports by dragging, dropping and linking these objects in a data flow diagram format.
- Analytical Calculator Includes 160 functions from simple arithmetic functions to complex multi-step statistical analyses, including probability functions.
- Snaps. This is a way of saving results and archiving information from different points in time. Snaps are kept in a separate relational database.
- Data Definition Layers. This includes a business view layer allowing business to bridge the technical layer by associating and using their own terms of reference for interacting with the system.
- Excel transforms. Provides complete integration with Microsoft Excel.
- Includes Admin component (Administrative application for managing entire Finalysis environment)
- Includes Automation component (Event driven tool for scheduling Sagent task to automatically provide Finalysis with operational data after the daily COB)
- Includes Analysis component allowing users to summarize and manipulate data across multiple dimensions and display result in cross tabs and charts, allowing for drilling down, rolling up, pivoting and exception highlighting).
- EIP Portal allowing business to consolidate and publish any business report and/or chat to pre-defined forums through the World Wide Web.
Besides the direct benefits as described above, the data warehouse provides all of the benefits of Business Intelligence viz. enhancing understanding of business drivers, customer trends and business performance, thereby providing management with the information to make pro-active decisions or exploit business opportunities.