Channel management: Business intelligence for banks

By : Lisa Kellermeyer

May 03, 2016 12:30 PM

How do companies make better decisions? These days the answer

increasingly lies with business intelligence (BI), a huge and growing sector

of IT that is reshaping the corporate world. While BI has traditionally

been something led by IT teams, it’s now shifting into the mainstream.

According to Gartner, the BI and analytics market is in the “final stage of

a multiyear shift from IT-led, system-of-record reporting to business-led,

self-service analytics.” As a result, it says new BI and analytics platforms

have emerged to meet requirements for accessibility, agility and deeper

analytical insight. Gartner estimates that global revenue in the BI and

analytics market will reach $16.9 billion in 2016, up 5.2 percent from

2015. "The shift to the modern BI and analytics platform has now

reached a tipping point," said Ian Bertram, managing vice president at

Gartner. "Organizations must transition to easy-to-use, fast and agile

modern BI platforms to create business value from deeper insights into

diverse data sources." Gartner’s argument is that analytics is strategic to

most businesses, which means “every business is an analytics business, every business process is an analytics

process and every person is an analytics user”. In banking, a good example of this shift is channel management.

Leading banks are incorporating transaction monitoring and cash management solutions to drive a leaner self-

service operation, often in support of wider branch transformation efforts. Moreover, in a multi-channel world,

decisions in one segment have implications elsewhere, meaning that integration of management solutions across

the various channels is essential. What we see is how the right mix of self-service device management, cash

management and end-to-end transaction monitoring means it’s possible for banks to have enterprise-wide

awareness, allowing them to make better decisions about the entire banking environment. Channel management

embodies the new BI - less IT-driven, and breaking down silos in support of wider business goals.

Lisa Kellermeyer

Global Marketing Manager

Banks & Credit Unions