Focus on understanding the data – not just collecting and storing

Landsbankinn was able to optimize their employees’ utilization of data with SAS Visual Analytics, which presents data in an understandable, user-friendly way. Therefore, the bank’s analysts can now focus on understanding and acting on data, rather than gathering and assembling it.

“We no longer have to spend vast amounts of time and resources on IT and reporting tools for gathering and assembling the data, putting it into excel sheets and so on. We get real-time data to present to the management, and instead we can focus on understanding and using this data to optimize our business”.

Jojo
Skuli Geir Jensson Head of Risk Solutions

The amount of data is rapidly growing across most industries and with it comes the need to have it analyzed for further utilization. Nowhere is this truer than in the world of banking. At the Icelandic Landsbankinn, Skuli Geir Jensson is Head of Risk Solutions and he wanted the bank to make better use of its data:

“Our main aim was to become self-sufficient; to be able to get real time data, presented in good looking reports that were easily created for the management without them having to order it days ahead and going through several iterations.“

In the search for a solution that could handle these requirements, SAS Visual Analytics was chosen. Weighing in on the decision was the good match with the current IT-setup at Landsbankinn as well as the system’s strong presentation of reports and the ease of use.

Only general technical skills needed

With SAS Visual Analytics, Landsbankinn has been able to get a much broader spectrum of users, due to the solution’s very accessible interface and high usability. Previously, it required the gathering of source data and creation of the data universe before the report could be created. With the solution from SAS Institute, there is a front end that connects directly to the source data, which enables Landsbankinn to skip a couple of steps. Before, it could take up to a couple of weeks to get a report ready for production – this has now been reduced to approximately half a day.

 “We had tried numerous tools and architectures to create an easy way to manage, use and present dashboards within the bank, with limited success. The problems we ran into were most notably the long time to market and how difficult they were to change, not to mention visualization of the data. With SAS Visual Analytics, we can create a dashboard quickly with up-to-date live data, they are easy to manage as well as very presentable,” says Skuli Geir Jensson and continues:

“We were also very pleased with the speed of deployment. We had the system up and running within a couple of months, and after some short introductions for our employees, they were ready. We were a little bit surprised by how easily our employees are able to create professional reports, without requiring in-depth technical training on using the solution.”

Being self-sufficient with regards to data insight, gives Skuli Geir’s department new opportunities:

“We no longer have to spend vast amounts of time and resources on IT and reporting tools for gathering and assembling the data, putting it into excel sheets and so on. We get real-time data to present to the management, and instead we can focus on understanding and using this data to optimize our business”.

Security focus

While speed of deployment and easy access were both handled, security and managing the reports on a department level were also in focus. With SAS Visual Analytics, the Risk division was able to control and manage the different users as well as the access to reports and the generation of generic reports.

“The solution fulfills every requirement we had with regards to security. From a security and management perspective, we are also able to get fine grained data within SAS Visual Analytics down to each department and see how they are performing against risk goals set by the management. This way we can more easily discover how to handle issues while they are still small and avoid them becoming bigger and harder to manage”, says Skuli Geir.

About Landsbankinn:

Landsbankinn is a leading Icelandic financial institution. Landsbankinn offers a full range of financial services and is the market leader in the Icelandic financial service sector with the largest branch network.

Challenge

Landsbankinn needed a solution that would enable employees to easily create reports without requiring much solution specific technical skills.

Solution

SAS Visual Analytics, which gathers big amounts of data and makes them easily visible in a user-friendly setup.

Benefits

The employees in Landsbankinn are able to create reports quickly, without requiring in-depth technical training.

The results illustrated in this article are specific to the particular situations, business models, data input, and computing environments described herein. Each SAS customer’s experience is unique based on business and technical variables and all statements must be considered non-typical. Actual savings, results, and performance characteristics will vary depending on individual customer configurations and conditions. SAS does not guarantee or represent that every customer will achieve similar results. The only warranties for SAS products and services are those that are set forth in the express warranty statements in the written agreement for such products and services. Nothing herein should be construed as constituting an additional warranty. Customers have shared their successes with SAS as part of an agreed-upon contractual exchange or project success summarization following a successful implementation of SAS software. Brand and product names are trademarks of their respective companies.

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