Cortal Consors Extends Its Mobile Banking Leadership by Issuing Reports 4x to 5x Faster Using a Simplified, Highly Available Data Warehouse
 
 

Cortal Consors Extends Its Mobile Banking Leadership by Issuing Reports 4x to 5x Faster Using a Simplified, Highly Available Data Warehouse

Cortal Consors, formed by a merger of French Banque Cortal and German Consors, is a wholly owned subsidiary of BNP Paribas, assisting more than 700,000 customers via telephone, online, and mobile channels. Its broad range of independent products and services include personalized investment advice, short-term investment solutions, banking services, mutual funds, and life insurance. A specialist in online savings and brokerage for individuals, Cortal Consors Germany was elected best in the Web 2.0 and Mobile Banking categories at the Euro Finance Week event. It was nominated as the best retirement planning advisor by the German financial daily, Handelsblatt.

 
 

 
 

Challenges

A word from Cortal Consors Germany

  • “With Oracle Exadata, we can simultaneously run a complete range of internal reports regarding the number of trades, customer-lifetime value, and financial marketing activityies without any bottlenecks or performance issues. This also enables us to react faster to customer issues and better address their needs for new financial products or services.” – Christine Zimmerer, Senior Team Head, Data Warehouse, Cortal Consors Germany

  • Assure data warehouse availability and protection and remove bottlenecks caused by multiple internal reports—such as number of trades, customer lifetime value, financial marketing, and consolidated financial statements—that run simultaneously every Monday morning
  • Make better, faster sense of available data, empowering management to establish the right strategy for customer-base expansion, stock market, mutual funds, and insurance offerings
  • Improve business intelligence performance to promptly address a vast range of business challenges, such as increased online focus, changing regulations, and growing financial fraud threats
  • Ensure a rapid migration without incidents to protect the company against revenue loss from a data center outage or unplanned downtime

Solutions

  • Deployed Oracle Exadata Database Machine to replace an older platform as the main storage for operational data—such as customer and assets details, trades, transactions, and credit risk data—and drive all data provisioning for analytical needs to a single source of truth
  • Achieved 100% data warehouse availability—outside of scheduled downtimes—with Oracle Exadata’s completely redundant hardware that protects against simple failures, such as disk, server, and network issues, as well as complex site failures and human errors
  • Reduced processing time for weekly and yearly closed-deposit reports by 4x to 5x on average—such as deposits categorized by specific customer lifecycle values—enabling better and faster positioning of financial education, rewards, and targeted offerings
  • Reduced IT maintenance effort and empowered staff to focus less on incident management and more on new business opportunities
  • Improved user experience by eliminating bottlenecks caused by hours-long reports running simultaneously
  • Limited the Exadata deployment time to only three months—including test runs, data migration, integrating with business intelligence, and front-end configurations—and ensured an incident-free migration with the suite of services and expertise included in the Oracle Exadata Start-Up Pack
  • Provided unique access to Oracle engineering and development expertise and coordinated service plans with a single point of contact—Oracle Advanced Customer Support Services

Why Oracle

“BNP Paribas’ data warehouse manages billions of messages in real-time, processing a terabyte of raw data every day. A separate half-rack Oracle Exadata deployment has helped to better manage this data growth and improve system performance. As a wholly owned subsidiary, we follow our parent company’s guidelines when choosing IT systems to achieve the exceptional results that an incredibly competitive financial market requires,” said Christine Zimmerer, senior team head, data warehouse, Cortal Consors Germany.