Published on 03-Jul-2009
Validated on 05 Sep 2012
"Using the solution from IBM and Virgil, we believe that we offer the fastest, most convenient access to financial data now available in the Netherlands." - Company spokesperson
Customer:
Banking conglomerate
Industry:
Banking, Financial Markets
Deployment country:
Netherlands
Solution:
Business-to-Consumer, Business Performance Transformation, RISV Solution, Smart Work, Smarter Planet, Transforming Business
Smarter Planet:
Smarter Banking
IBM Business Partner:
Virgil
Overview
Having started as a group of small rural banks in the late nineteenth century, this bank is now a large conglomerate of 153 local banks.
Business need:
To better serve its customers, the bank needed to deliver financial insight more efficiently.
Solution:
This bank became the first in its marketplace to integrate financial data sources into a centralized, customizable portal. The portal helps enable staff to provide faster, more accurate advice, and it allows customers to track relevant data in real time via the Web.
Benefits:
Enabled staff and customers to access the data they need up to 35 percent more quickly; helped cut total cost of ownership by 15 percent through lower application costs, enabling an 18-month return on investment; increased customer satisfaction with first-to-market functionality.
Case Study
Overview
Industry
• Banking
Products
• IBM Lotus® software
• IBM WebSphere® software
IBM Business Partner
• Virgil
Having started as a group of small rural banks in the late nineteenth century, this bank is now a large conglomerate of 153 local banks that provides a wide range of financial services and products to its country’s retail and business sectors. It is part of a larger corporate group, which is a marketplace leader in practically every financial services area.
Challenge
This conglomerate of 153 local banks provides a wide range of financial services to businesses and consumers. To offer the best rates, prices and advice to customers, it must have the quickest possible access to stock market data, interest and exchange rates, and other information. But like most large banks in its marketplace, it used separate internal applications to tap into the various data sources. This process forced staff to toggle through several interfaces to find all of the pertinent data for a customer, making it hard to offer fast, quality advice. Maintaining the various applications was also costly. To better serve its customers, the bank needed to deliver financial insight more efficiently.
Solution
This bank became the first in its marketplace to integrate financial data sources into a centralized, customizable portal. Based on software from IBM and IBM Business Partner Virgil, the portal helps enable staff to provide faster, more accurate advice, and it allows customers to track relevant data in real time via the web.
Benefits
• Enabled staff and customers to access the data they need up to 35 percent more quickly.
• Helped cut total cost of ownership by 15 percent through lower application costs, enabling an 18-month return on investment.
• Increased customer satisfaction with first-to-market functionality.
“Using the solution from IBM and Virgil, we believe that we offer the fastest, most convenient access to financial data now available in the Netherlands.” —Company spokesperson
Products and services used
IBM products and services that were used in this case study.
Software:
WebSphere Application Server, WebSphere Portal Extend
Legal Information
© Copyright IBM Corporation 2009 IBM Corporation 1 New Orchard Road Armonk, NY 10504 U.S.A. Produced in the United States of America June 2009 All Rights Reserved. IBM, the IBM logo, and ibm.com are trademarks or registered trademarks of International Business Machines Corporation in the United States, other countries, or both. If these and other IBM trademarked terms are marked on their first occurrence in this information with a trademark symbol (® or ™), these symbols indicate U.S. registered or common law trademarks owned by IBM at the time this information was published. Such trademarks may also be registered or common law trademarks in other countries. A current list of IBM trademarks is available on the Web at “Copyright and trademark information” at ibm.com/legal/copytrade.shtml. Other company, product, or service names may be trademarks or service marks of others. The information contained in this documentation is provided for informational purposes only. While efforts were made to verify the completeness and accuracy of the information contained in this documentation, it is provided “as is” without warranty of any kind, express or implied. In addition, this information is based on IBM’s current product plans and strategy, which are subject to change by IBM without notice. IBM shall not be responsible for any damages arising out of the use of, or otherwise related to, this documentation or any other documentation. Nothing contained in this documentation is intended to, nor shall have the effect of, creating any warranties or representations from IBM (or its suppliers or licensors), or altering the terms and conditions of the applicable license agreement governing the use of IBM software. This document illustrates how one organization uses IBM products and services. Many factors have contributed to the results and benefits described; IBM does not guarantee comparable results elsewhere. References in this publication to IBM products or services do not imply that IBM intends to make them available in all countries in which IBM operates. ODC03014-USEN-01