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BANKING
Multinational Bank Finally Files Reports On Time
The Challenge
A leading Dutch multinational banking and financial services firm was dissatisfied with its current global reporting platform, which struggled to swiftly process data from more than 130 branches and generate compliance reports. Reports were delayed because the system couldn’t deliver statutory reports to regulatory authorities in timely fashion. In addition, concurrent user access to month-end and quarter-end reports overtaxed and slowed the platform’s performance.
Our Approach
Cognizant optimized the bank’s system by digitally transforming its underlying hardware to a modern, high-performing Oracle Exadata (EXA) platform. We conducted an assessment first, and then created a roadmap and proof of concept for a low-downtime “out-of-the-box” migration to EXA. This migration has enhanced the performance and security of the legacy reporting application and database, as well as allowing for continuous implementation of new solutions.
By stabilizing the performance of the bank’s legacy reporting application, the head office and local branches are now able to run all extract, transform and load (ETL) jobs simultaneously, as well as parallel ad hoc reporting queries. Bank employees can rapidly process data and deliver both statutory and risk reports to local and international regulatory authorities on time.
A Migration That Performs…and Scales
Migrating the bank’s legacy reporting application and its database to the Oracle EXA platform has enhanced performance, scalability and maintainability.
$25 million (USD)
annual savings due to shared platform
180%
improvement in batch processing
200%
improvement in workflow processing
250%
faster reporting
400%
faster analytics processing
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