National Australia Bank (NAB) is a financial services organization employing more than 40,000 people, operating more than 1,800 branches and service centers, and responsible to more than 460,000 shareholders. The bank operates major financial services franchises in Australia, as well as businesses in Asia (NAB branches in Beijing and Shanghai), New Zealand (Bank of New Zealand), the United Kingdom (Clydesdale Bank and Yorkshire Bank), and the United States (Great Western Bank). NAB provides more than 10.93 million customers worldwide with retail, business, and institutional banking services.
NAB evaluated a number of master data management products, but only Oracle Hyperion Data Relationship Management offered the all around capability that the bank needed.
“It would have to be the best software product I have encountered―everything it says it can do, it does, and does well,” said David Gray, asset owner master data, finance asset & operations, National Australia Bank.
To prepare for the Oracle Hyperion implementation, NAB spent a number of weeks gathering system requirements for interface designs.
“All the rules and validations of the source system must be replicated in the Oracle Hyperion system,” said Gray. “For example, if a cost center has a four-digit code, it must be the same in the Oracle Hyperion system.”
NAB conducted data reviews of each system to clearly define property configurations, such as system defaults, derivation logic, and verifications. The bank also opted for a centralized maintenance and governance approach, where one team looks after the master data.After these initial preparations, NAB began adding test data into the Oracle Hyperion system. According to Gray, data validation was a crucial step.
“If multiple sources had been maintaining the same data, there would be differences,” he said. “We had to choose the right data―or the right hierarchy of data―to validate and test. As this project was owned and driven by the Finance department, we deployed the data hierarchy for the management reporting line of business first, which includes the bank’s cost centers.”
The implementation team, comprising Gray as the project manager, two NAB team members, and a consultant from Oracle Consulting, took three months to deploy Oracle Hyperion Data Relationship Management.
The Oracle consultant provided initial training on the Oracle Hyperion product. The Oracle Hyperion master data management system went live in 2006.