Better banking data analytics

Opencast worked with a Tier 1 banking client to build a new data analytics calculation engine, with the aim of helping it to answer strategic business questions more easily.

Challenge

Because of its size and global reach across over 100 countries, the bank had around 8,000 different technology applications, some bespoke and some off the shelf.

A key business challenge was to help the client put into production the calculation engine within the bank and so help it understand how best it could use the data its applications generated to gain insight, while staying within the strict regulatory requirements that the bank had to follow.

Response

Better data analytics had the potential to offer the business huge insights and tell a compelling story, and the new calculation engine would give our client the confidence that data that it was using would be an asset rather than a liability. It would also help establish if regulatory requirements were being breached and help identify applications that could be made redundant.

Because the new engine would be cloud-based, its power and ability to generate insights would be opened up and accessible to teams across the bank.

It would identify where data was created and where it flowed, automating processes and creating software to leverage the data that existed.

Opencast’s work would allow our client to have a real-time view of the evolving architecture of the bank around deprecating or extending systems. They could then make informed decisions about its information structure and architecture, and stop spending money on systems that no longer needed support.

Impact

Opencast’s work for the bank delivered the core calculation engine, the reporting and the APIs, all deployed to their cloud infrastructure.

We were able to understand a big problem quickly, as well as providing engineering excellence and software that worked. We worked in a complex business environment, delivering technical excellence at the same time as managing internal stakeholders.

Opencast’s work for the client delivered the core calculation engine, the reporting and the APIs, all deployed to their cloud infrastructure