Jet Infosystems helps Alfa Bank with efficient treasury management
Moscow. Alfa Bank and Jet Infosystems have completed an analytical reporting system for treasury management needs. The system is based on OLAP (online analytical processing) technologies.
The main objective of the project was to develop an instrument for rapid reporting from various analytical perspectives according to scenarios forecast by the treasury department In addition, a large number of standard reporting templates that had been used by the treasury for several years needed to be replaced because they had been compiled using obsolete logic. Treasury analysts employed ad hoc means to select and analyze data directly from the bank’s systems. This process had gradually become too slow for meaningful analysis.
Jet Infosystems experts reviewed the bank’s requirements to the reporting system and developed an optimal model for data processing. The bank chose the multidimensional Oracle Essbase as the OLAP platform and Oracle BI as the instrument for data analysis.
Jet Infosystems engineers in cooperation with the Alfa Bank team integrated Oracle Essbase aggregated data with detailed data from the bank’s systems in an Oracle relational database. Its users are now able to analyze aggregated information in terms of various parameters and, if needed, to employ data drilling.
“The bank’s experts have worked hard to develop a model that covers nine business areas and meets all the treasury department requirements for flexible data analysis. With this ground-breaking project Alfa Bank has for the first time acquired an analytical system on the Essbase platform. This endeavor was a major challenge, since data in the analytical model had to be readily available notwithstanding numerous changes in the initial data. The project boasts several unique solutions and satisfies all our key needs. I wish to thank the bank’s team, Jet Infosystems experts and Oracle CIS,” comments Aleksandr Libkind, a senior manager at the Centralized Technologies Directorate, Alfa Bank.
“Progress in BI platforms means new functionality and the ability to handle increasingly sophisticated tasks. In this project we have succeeded in integrating two heterogeneous sources, namely a relational database and an OLAP database, for a single analytical application. Their simultaneous use provides virtually unlimited opportunities for the analysis of outcomes as well as the source data,” notes Dmitriy Kulagin, the chief architect of the project, Jet Infosystems.
Founded in 1990, Alfa Bank is a universal institution that operates in all sectors of the financial market, including corporate and retail banking services, investment banking, trade financing and asset management.
As of September 1, 2011 Alfa Bank had about 48 thousand corporate clients and 5.7 million individual clients. The bank operates 422 branches in Moscow and across Russia. It also has a subsidiary bank in the Netherlands and subsidiary financial companies in the US, the UK,and Cyprus.