Business Discovery for Financial Services using QlikView

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QlikView Business Discovery - user driven Business Intelligence & Analytics for the Financial industry.

Business Discovery for Financial Services using QlikView

  1. 1. Business Discovery for Financial Services Anup Nambiar Qlik India June 2014
  2. 2. Program • Introduction • What is Business Discovery • How QlikView supports Business Discovery • QlikView for Financial Services • Demo • Discussion
  3. 3. A New Generation “The New Reality for Business Today” Volatility Extreme Product Life Cycles Demand for Faster Decisions Extreme Supply Chains Extreme Transparency Empowered People Command and Control
  4. 4. Explosion of Digital Data Limited Access to Powerful Analysis Long Time to get Answers Industry Average Deployment Traditional BI: 18 Months Time to Build One Report traditional BI: 6.3 Weeks 72% 28% Cisco predicts that we will use as many as 50 billion online connected devices by 2020 - and that is leading us to produce as much as 7.9 zetabytes of data globally by 2015. Source: http://www.computerweekly.com/blogs/cwdn/2013/04/ca-world-big-data-needs-to-be-productionised.html “ ” The need is growing, most BI not delivering 22% 78% BI users Non users
  5. 5. QlikView® is a Business Discovery Platform. Business Discovery™ is user-driven BI. Simplifying Decisions for Everyone, Everywhere
  6. 6. QlikView® rapidly makes data accessible, whatever the source Connecting every user to their data
  7. 7. The drivers of the QlikView® difference • Natural Analytics™ experience • Association + visualization = true discovery • Speed to value and rapid prototyping • Apps deployment model: reusable objects deliver agility and focus • Governance: control at center; flexibility at the edges • Collaboration & Mobility
  8. 8. Decisions that empower every user C-Suite • Empower users • Line of sight • Anticipate unknown challenges IT • Governed Discovery • “Storekeeper” not gatekeeper • Platforms, not point solutions Line of Business • Collaborate on decision-making • Faster decisions • Make discoveries via unconstrained analysis
  9. 9. How traditional BI and visualization tools work QlikView • Limited view and access to data • Forced down linear drill paths • Need to involve IT to modify • What-if and on-the-fly analysis is limited • Freedom to explore data from any point in analysis in a dynamic, interactive interface • Answer any question on the fly, real-time • Easily see connections, and disconnects in data The unique QlikView® patented data association technology
  10. 10. Actionable Data Cycle Make unique discoveries Collaborate with others Conduct further analysis Persuade people to act, invest and make a change Empower people responsible for change Use QlikView to measure success QlikView® makes data actionable for every user Ongoing Reevaluation
  11. 11. 31,000 customers in 100 countries Used in all Top 20 Financial Services firms in US and EMEA* 15 of the top 15 banks 5 of the top 5 Insurers 10 of the top 10 capital markets 1,700+ employees across 28 offices in 23 countries Dedicated QlikView Financial Services teams globally 1,700 global partners including industry specific technology, solution and SI partners 2,800+ Financial Services clients * 2011 Forbes 2000 list in Financial Services
  12. 12. The 3 Key Drivers for Analytics / Data Discovery in Financial Services (Expenses, Productivity, Margin Optimization…) Cost Reduction (Cross Sell, Upsell, Lifetime $, Pricing…) Customer Intelligence (Op Risk, Credit Risk, Interest Rate Risk…) Manage Risk /Compliance GROWTH & STABILITY Increasing Business Agility
  13. 13. ROI with QlikView® Banking, Securities & Investments examples • 5000+ QlikView users deployed in < 6 months • Big Data: 4.3 million customers with 260 million agreements and 800 billion cells analyzed in QlikView • $2m estimated ROI for every 100 QlikView users • $1b+ in increased deposits related to QlikView cross sell app • $1m savings per year in printing expenses by analyzing 25k+ employees spend and changing behavior using QlikView Top 10 Global Retail Bank Top 10 US Retail Bank • $1m savings by analyzing Market Data Services (MDS) spend • 5000%+ ROI on overall QlikView investment • 60 FTE spreadsheet users re-allocated after QlikView • <3 months payback period on QlikView investment • $7.1 million NPV calculated internal ROI Top 10 Global Investment Bank Top 20 Global Investment Bank • $10.2m in cost savings (within 4 months) by identifying unnecessary resources and either eliminating or reassigning them • 96% year over year increase in staff productivity • 12 weeks for entire deployment in Westpac’s wealth mgt. division Leading European Retail Bank
  14. 14. ROI with QlikView® Insurance examples • $221k projected cost savings not including reduction in time spent on manual budgeting and data reconciliation • <8 week implementation • 25% improvement in lead conversion rates • 60% reduction in time and IT resource requirements for regulatory reporting • 17% overall business growth over 2 yrs attributed to QlikView • $400,000 savings achieved over a period of two years • <4 week deployment to business users • 10 days to achieve quantifiable ROI • 6 days to deploy first application • 1000+ complex data sources governed with QlikView Expressor • $300m of financial transactions reconciled down to the penny • 4 weeks to deploy 5 QlikView Expressor data flows • $26m in claims fraud savings by QV discovery • $7m avoided in Cognos upgrade/maintenance costs Top 25 U.S. Insurer
  15. 15. Top 10 Solutions for Business Discovery
  16. 16. Top 10 QlikView applications in Financial Services Over 2,800 Financial Services firms have deployed QlikView across the globe 1 Executive Dashboards & Scorecards 2 Sales & Revenue Analysis 3 Risk & Compliance 4 Client Servicing / Extranet 5 Expense Management 6 Customer Analysis & Targeting 7 Asset Management & Investment Analysis 8 Transaction Monitoring 9 Financial Management 10 IT Management
  17. 17. Leading European Retail Bank Customer Analysis and Targeting FTEs reallocated Increased volume of customer interactions Improved quality of customer interactions Challenges • Improve ability for the bank’s 300+ branches to target customers in a self service manner • Empower 6,000+ sales advisors to increase customer interactions and better cross-sell / up-sell products & services • Replace legacy SQL based tools and find an alternative to the bank’s reporting tools – which could not solve the problem Solution Deployed QlikView to 5,000+ users at 300+ branches for: • Customer targeting at the individual branch level • Ad-hoc customer base analysis for cross-sell / up-sell • 1.4 Terabytes of data Results • Created new, flexible analytics alternative to existing BI which incorporated free analysis, usability, security, performance and high user adoption
  18. 18. Bank Neuflize OBC (ABN AMRO) Risk and Compliance Challenges • Build a centralized, cross-entity operational risk monitoring system for the bank’s controllers and executives • Provide reliable, real-time tracking of processes across thousands of operational control points Solution Deployed QlikView to central risk control organization for: • Global Operational Risk Monitoring and Fraud Investigation • Centralized, real-time monitoring across1700 checkpoints, over 8000 instances, and 5M monthly transactions • Allowed team to compare and combine from different sources and standpoints to understand activity and pinpoint areas of concern Results • Reduced operational risk by allowing investigation down to the transaction level, to uncover underlying drivers • Eliminated 120 days of manual reporting effort for a team of 20 controllers One of the top three private banking and wealth management firms in France, with over $30B in assets under management Reduced operational risk by allowing investigation down to the transaction level Eliminated 120 days of reporting overhead for team of 20 controllers
  19. 19. Social Media – Twitter Data
  20. 20. HDFC Life Insurance - India Challenges • Eliminate proliferation of data in silos • Reduce response times to customers and improve cust. sat. • Provide a strategic decision making model to sr. mgt. • Accelerate business growth and market standing Solution • QlikView deployed on web and mobile in many areas: • Customer Relations • Operations • Sales • Marketing • others Results • Increased customer response time by 50% • Accelerated business growth by 17% in 2 years • Achieved $400k+ in operational savings < 2 years • Deployed projects in < 4 weeks “QlikView has given our senior management a holistic view of our business. Decisions are now made time-efficiently based on concrete evidence. As a result, our business has grown by 17% over the last 2 years and were are now ranked #2 in the market, which is fantastic given the current economic landscape in India. V Ananthanarayanan, AVP, Business Insights, HDFC Life HDFC Life is one of India’s leading private life insurance companies offering a range of individual and group life insurance solutions. It has about 500 branches serving customers in over 900 cities.
  21. 21. Lockton Insurance Challenges • Needed to leverage data to quickly enter new markets • Needed to increase revenues by helping sales win clients, keep clients and sell them more • Needed business intelligence tool used to help clients compare property and casualty programs, track market trends, and benchmark pricing Solution • Executive Dashboard • Carrier Layer Benchmarks • Demographic / Population Statistics • Exposures and Client Demographics • Premium/Limits/Retention Comparisons Results • KC Business Journal Impact Award winner for IT Excellence, Innovation and Top Line Growth for applications built on QlikView • Information Week 500 Award winner tops among insurance companies for Lockton’s application built on QlikView About Customer • Lockton is the largest independent insurance broker and the 9th largest insurance company in the US • Lockton is privately held with 56 offices in 16 countries and 2011 Revenues $836m
  22. 22. Demonstration
  23. 23. How Natural Analytics™ helps you: • Multiple data sources • See and understand relationships Association Discover Comparison • Compare and contrast data • Do set and basket analysis Anticipation • Guides users toward what they seek • Reveals unexpected data relationships Do Persuasion • Show how you arrive at conclusions • Persuade to act on recommendations Action • Answers defended and validated immediately, in real-time, not off-line • Advance outcomes Decide Collaboration • Collaborate in real-time • Share data bookmarks • Solicit and provide feedback Data DialoguesTM • Data storytelling with live apps • Explore data together

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