Danske Bank has invested $3.25 million in a complete suite of analytic applications from PeopleSoft’s enterprise performance management (EPM) solution.
Thomas Johansen, first vice president, IT finance at Danske Bank, says the implementation of the business intelligence software will enable the bank to analyse data by customer, product, channel and sector in an integrated environment. "We enable the business units to use their time analysing and understanding the data in contrast to just gathering it," says Johansen.
The analytic applications purchased by the bank include funds transfer pricing, risk weighted capital, asset liability management, activity based management, balanced scorecard, financial insight and profitability insights, financial budgets.
The roll-out of the product to the bank's worldwide locations is expected to take 18 months and will commence in the second quarter.