Boston, September 25, 2012 – A new report from Aite Group introduces the Reporting and Analytics Maturity Curve, a roadmap that banks can use to plan the evolution of their analytics and reporting capabilities. Based in part on Aite Group interviews with commercial-bank senior managers who have used different combinations of manual processes and automation to overcome compliance and analysis challenges, this report helps banks identify achievable benefits of analytics and reporting capabilities and to set goals for deployment.
The business of commercial banks is twofold: There is the obvious gathering of deposits and the booking of loans to commercial borrowers, but commercial banks also gather data and use that information to improve results. Banks gather large amounts of data in every core commercial banking activity, including booking and processing loans, evaluating risk, and performing treasury-related services. The more this data is exposed to decision-makers that have reporting and analytical tools, the more loans the bank will book, the broader its commercial relationships will be, and the more productive its employees will become.
“As accumulators of vast amounts of data on their customers, loans, and relationships, commercial banks must implement a plan that will enable reporting and analysis capabilities to evolve from compliance-achieving tools to capabilities that improve employees’ ability to analyze data and make decisions,” says David O’Connell, senior analyst with Aite Group and author of this report.
This 37-page Impact Report contains 15 figures and two tables. Clients of Aite Group’s Wholesale Banking service can download the report by clicking on the icon to the right.