Customer Spotlight: Following the Money Trail
Saint Petersburg Bank analyzes client budget changes and short term liquidity using Qlik.
In life you create partnerships. You choose where you want to live, you choose where you go to school, you choose which bank you use. All banks seek to create a personal relationship with you that builds trust in them.
They’ll compete with others, all while maintaining high quality service. The competition to maintain customers has never been more challenging, it’s why you see local bank branches being turned into cafes.
In 1990 Saint Petersburg Bank was created to service the people of Saint Petersburg and Northwest Russia, a section of the country bordering Estonia and Finland. Twenty-six years later, the bank serves 1.6 million people and more than 56,000 companies in 48 branches and offices across the region. Currently the bank is ranked 18th in terms of assets among other Russian banks. With success however, comes greater data responsibility.
As the data volumes began to grow, so too did the bank’s reporting process. So much so that it was reaching the outer limits of what existing software was capable of. Searching and analyzing the data required an exorbitant amount of time and labor which prohibited quick management decisions from being made.
The bank needed a solution with a proven track record of maintaining a high level of control with monetary data, and that could expand their ability to view the data.
BI Consult introduces them to Qlik
With a little help from a consultant, Saint Petersburg Bank found what they were looking for in Qlik. In June 2015, employees began training on how to develop Qlik applications, and by November it had been deployed by corporate headquarters and numerous divisions. To date, the bank has loaded over 100 million accounting data records into Qlik and roughly 100 users have access to this large volume of data.
“During testing, the local Qlik banking experts, with the support of BI Consult, were able to clearly assess the capabilities of the platform, so that the effect of implementation was evident even before the start of the project.” Deputy Chairman P.V. Filimonenok.
Thanks to Qlik, with BI Consult’s help, the bank now has better insight into short term liquidity, including a retrospective analysis on balance changes of customer accounts. The bank also has the ability to dive deeper into the details and view individual contracts and invoices to pinpoint client budget figures. It may not sound impactful at first, but consider that it once took an average of 40 minutes to complete a task which now takes 3-5 seconds.
After implementing Qlik, Saint Petersburg Bank was able to save both labor costs and employee resources by shortening report delivery time to management. In a sense, you could call it a case of “found money”.
