Teradata Corporation (NYSE: TDC) announced today it has signed an agreement in which Banco de Crédito BCP, the leading financial institution in Peru, will replace its present data warehouse with a powerful Teradata enterprise data warehouse (EDW), a Teradata Financial Services Logical Data Model (FS-LDM) and the Teradata EDW Roadmap.
BCP has been developing its business intelligence strategy and data warehousing environment using an "in-house" data model. However, changes in the business environment and continuous pressure have compelled BCP to find a solution based on a structured data model for the financial services industry which has been successfully implemented by other financial institutions. Specifically, BCP sought a solution to better meet their customers' needs, providing BCP with a better and faster decision-making process and the pro-active approach that the market requires. For that reason BCP selected Teradata as a strategic partner for its long-term process, which is focused on achieving a competitive market advantage.
The BCP enterprise data warehouse will be implemented with the Teradata FS-LDM as a foundation for the management of business information, aligned with BCP's new business intelligence strategy, and based on the Teradata EDW roadmap - a planning tool that incorporates global financial services industry best practices into the BCP system.
"In the current financial industry the key is to have deep visibility into the detailed behaviour of our customers, because their needs are increasingly complex. With every customer interaction, we have an opportunity to offer a service or product that is relevant and important to the individual or company we serve," said Ricardo Bustamante, chief information officer, BCP. "Detailed and relevant data based on current and on-line information across all divisions of the bank are crucial to our mission of serving every customer."
"Having BCP as a Teradata client is really a great honour, given their prestige and leadership in Peru and worldwide," said Leonardo González Barceló, Teradata country manager for Chile and Perú. "The contract that we have signed allows us to work with BCP in a world-class business intelligence program comparable to Teradata's collaboration with other major financial services institutions worldwide. We are certain that with Teradata, the new business intelligence strategy defined by BCP will be successful. With insight into detailed data, BCP and its employees will be empowered to better serve customers, increase profitability, and make better and faster decisions at all levels within the institution."