CaixaBank selects Oracle for Big Data project
20 December 2013 | 6871 views | 0
CaixaBank, Spain's largest domestic bank by market share, has selected Oracle for the deployment of its new Big Data infrastructure.
This project, which includes an array of Oracle solutions, positions CaixaBank at the forefront of innovation in the banking industry. The new infrastructure will allow CaixaBank to maximize the business value from any kind of data and embark on new business innovation projects based on valuable information gathered from large data sets.
• CaixaBank, the leading bank in the Spanish market with a customer base of 13.7 million, is implementing a strategic Big Data project with the objective of maximizing the business value of any kind of data, regardless of its type or origin.
• This project aims to develop a unified, fluid, agile, flexible, powerful and secure data repository (Data Pool), from which any informational business request can be easily and rapidly answered by selecting the right set of data and extracting valuable business information. The Data Pool will allow a faster decision making process, as well as the implementation of new competitive banking and financial services, thus allowing CaixaBank to gain a competitive edge.
• With the implementation of the new infrastructure, CaixaBank will be able to develop a 360-degree view of customer activities, integrating the data created in all the different channels (offices, internet, phone banking, ATMs, etc.) for better customer services. Thus, all the information registered in any one of the different channels will be immediately available in the rest of the channels.
• The bank will be able to create predictive models, improve customer value, enable cross-selling and up-selling and create personalized offers to customers.
• In addition, the bank will be able to implement new processes to reinforce risk management and brand protection services, fight fraud and streamline current processes to reduce time-to-market.
• The bank will also be in a better position to meet the growing regulatory conditions and scheduled banking stress tests, which are becoming more and more demanding in terms of ddata access and availability. The new regulatory framework requires the ability to answer thousands of queries for which a new integrated information model will help enable a faster and more accurate response.
• The Oracle solution (including Oracle Engineered Systems, Oracle Software and Oracle Consulting Services) consists in the implementation of a new Information Management Architecture that provides a unified corporate data model and new advanced analytic capabilities.
• CaixaBank is currently Spain's leading bank in terms of innovation and technology, and one of the most prominent innovators worldwide. CaixaBank has been recently awarded the title of the World's Most Innovative Bank at the 2013 Global Banking Innovation Awards (November 2013).
"Business innovation is the key for success in today's highly competitive banking environment," said Juan Maria Nin, CEO of CaixaBank. "The implementation of this Big Data solution will help CaixaBank remain at the forefront of innovation in the financial sector, delivering the best and most competitive services to our customers".
"We are proud to be the partner of choice for CaixaBank's Big Data project," said Leopoldo Boado, Country Leader, Oracle Iberia. "Nowadays, innovation is directly linked to exploitation of the treasure of useful information formed both by structured and unstructured data. With the implementation of its Big Data project, CaixaBank is taking a significant step in business innovation".