Bank of North Carolina looks for Big Data insights with SAS analytics
02 June 2014 | 1560 views | 0
Bank of North Carolina (BNCN) is setting the pace for community banks by boosting its big data visualization investment.
After standardizing on SAS® Analytics for reporting in 2013, the bank found SAS Visual Analytics provides superior report control and validation while remaining fast and easy for users.
Using SAS, the bank can better aggregate data for portfolio reporting and create more comprehensive reporting across different business lines and personnel. Bank of North Carolina expects the streamlined process to cut costs by lowering the need for training and additional staff while improving user efficiency.
"With SAS Visual Analytics' easy, drag-and-drop interface, we will be able to understand our data faster and in more detail," said Michael Bryan, Chief Information Officer at Bank of North Carolina.
Through its thriving merger-and-acquisition business, Bank of North Carolina has doubled in size over the past three years. Investment meetings require the bank's CFO to have timely information at his fingertips. By providing instant access via a tablet to the latest data, the CFO can instantly drill down into reports created using SAS Visual Analytics to make better business decisions.
Financial institutions of all sizes struggle to understand intricate relationships within portfolios and across holding companies, and strain to effectively manage associated risks. The bank has future plans to use SAS Visual Analytics to help enhance audit capabilities and predict risk trends. Auditors will then be able to explore data without needing IT to help slice and dice the information.
"Banks are awash with data but thirsty for answers and insights," said David M. Wallace, Global Financial Services Marketing Manager at SAS. "With SAS Visual Analytics, Bank of North Carolina will discover insights in its data to accelerate fact-based decisions."