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Indian Overseas Bank is a large bank based in Chennai, India with 2,500 branches and 1,300 ATMs, countrywide. The bank provides financial services, such as savings accounts, term deposits, loans, mortgages, and credit cards, to millions of customers in India and abroad, in Hong Kong, Singapore, Sri Lanka, and Thailand.
Recently, Indian Overseas Bank realized it needed a business intelligence system to analyze data from core systems, so it could cut operating costs across its 2,500 branches and improve plans for distributing staff, branches, and ATMs. The bank also wished to reduce the time taken to complete performance assessments of its branches.
In addition, the bank needed to improve the analysis and dissemination of transactional and customer data from core banking systems by allowing users to connect to multiple, disparate data sources and display this information on a single screen.
Indian Overseas Bank used Oracle Database, Oracle Express, and Oracle Discoverer to build its data warehouse in 2001, so it made sense to keep using Oracle technologies.
“Oracle Express also reached end of life in December 2010, so we decided that a move to
Oracle Business Intelligence Enterprise Edition and Oracle Essbase would benefit the organization,” said S. Radhakrishnan, general manager, IT, Indian Overseas Bank.
“During the proof-of-concept evaluation, we discovered that Oracle Business Intelligence Enterprise Edition could connect to our Sybase and Oracle databases, and it would enable us to do real-time data analysis,” he continued.
“We also realized that the migration would be relatively quick because historical data in our data warehouse could be connected to Oracle Business Intelligence Enterprise Edition without the need to do any extra work.”
Between May and October 2010, Indian Overseas Bank engaged Oracle Advanced Customer Support Services to train its IT team to deploy and use Oracle Business Intelligence Enterprise Edition and Oracle Essbase.
The solution was subsequently tested and deployed to the bank’s branches, and its central and regional offices.