MicroStrategy Incorporated (Nasdaq: MSTR), a leading worldwide provider of business intelligence software, today announced that Bank of the West has selected MicroStrategy for risk management reporting and analysis.
To mitigate risk in collections and lending, Bank of the West will use MicroStrategy to glean valuable information from its collections data warehouse, which contains loan default information. With MicroStrategy, Bank of the West personnel can analyze lending and collections data to generate reports that compare risk management strategies, assess effectiveness, and determine optimal risk management policies for the company.
"We perform sophisticated analyses to evaluate and enhance our risk management program," said John Kenneth Lord, Vice President of Bank of the West. "With MicroStrategy's powerful analytics and intuitive web interface, our personnel can create insightful reports that help us to make data-driven decisions that ultimately have a positive impact on our bottom line."
"MicroStrategy is pleased to add Bank of the West to our growing list of financial services customers," said MicroStrategy's COO Sanju Bansal. "Our flexible and scalable architecture is well-suited for financial institutions, enabling them to make better use of their volumes of data to improve operations, find new revenue opportunities, reduce costs, and improve efficiencies."