Banco de Espana adopts Microstrategy risk analysis platform

Source: Microstrategy

MicroStrategy Incorporated (NASDAQ:MSTR), a leading worldwide provider of business intelligence software, today announced that the Banco de Espana has successfully deployed the MicroStrategy Business Intelligence Platform as the reporting and analysis standard for its Risk Information Group.

The Banco de Espana is Spain's central bank with full responsibility for regulation and supervision of the country's financial system, and is a member of the European System of Central Banks along with the central banks of the other nations participating in the European Monetary Union and the European Central Bank.

"After evaluating other business intelligence solutions, the Banco de Espana selected MicroStrategy to meet our complex business requirements," said Carlos Sainz, Head of the New Technologies Division at the Banco de Espana. "The MicroStrategy platform's ease-of-use, unparalleled scalability, robust analytics and superior flexibility enable our employees to run sophisticated yet intuitive reports against large volumes of data."

The Banco de Espana chose to deploy a data warehouse that enables employees to analyze credit risk data and run statistical reports with ease. In production since June 2002, the MicroStrategy-based system has successfully reached its first-phase objectives. The second phase ended in September 2003 and the application will continue to expand its reach across the organization in subsequent phases.

"The outstanding reporting features and excellent scalability inherent in the MicroStrategy platform provide the Banco de Espana with the ease-of-use for rapid deployment to a diverse user-base," said MicroStrategy's COO Sanju K. Bansal. "A number of the world's leading financial services companies and organizations have chosen MicroStrategy for such critical applications as regulatory management, business performance management, credit risk management, and financial reporting and analysis. The top five global commercial and savings banks are now MicroStrategy customers."

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