Bank of North Carolina speeds reporting, insights with SAS® Visual Analytics
Bank’s second investment in SAS® Analytics in a year testifies to value of big data
Bank of North Carolina (NYSE: BNCN) is setting the pace for community banks by boosting its big data visualization investment. After standardizing on SAS® Analytics for reporting in 2013, the bank found SAS Visual Analytics provides superior report control and validation while remaining fast and easy for users.
Using SAS, the bank can better aggregate data for portfolio reporting and create more comprehensive reporting across different business lines and personnel. Bank of North Carolina expects the streamlined process to cut costs by lowering the need for training and additional staff while improving user efficiency.
“With SAS Visual Analytics’ easy, drag-and-drop interface, we will be able to understand our data faster and in more detail,” said Michael Bryan, Chief Information Officer at Bank of North Carolina.
Through its thriving merger-and-acquisition business, Bank of North Carolina has doubled in size over the past three years. Investment meetings require the bank’s CFO to have timely information at his fingertips. By providing instant access via a tablet to the latest data, the CFO can instantly drill down into reports created using SAS Visual Analytics to make better business decisions.
Financial institutions of all sizes struggle to understand intricate relationships within portfolios and across holding companies, and strain to effectively manage associated risks. The bank has future plans to use SAS Visual Analytics to help enhance audit capabilities and predict risk trends. Auditors will then be able to explore data without needing IT to help slice and dice the information.
“Banks are awash with data but thirsty for answers and insights,” said David M. Wallace, Global Financial Services Marketing Manager at SAS. “With SAS Visual Analytics, Bank of North Carolina will discover insights in its data to accelerate fact-based decisions.”
Read the whitepaper Banks, Big Data and High-Performance Analytics to learn what banks stand to gain from analytics and big data.
About Bank of North Carolina
Headquartered in High Point, NC, BNC Bancorp is the parent company of Bank of North Carolina, a commercial bank with $2.93 billion in assets. Bank of North Carolina provides a complete line of banking and financial services to individuals and businesses through its 32 banking offices in North and South Carolina. The bank's seven locations in South Carolina operate as BNC Bank. Bank of North Carolina is insured by the FDIC and is an equal housing lender. BNC Bancorp's stock is traded and quoted in the NASDAQ Capital Market under the symbol “BNCN.”
SAS is the leader in business analytics software and services, and the largest independent vendor in the business intelligence market. Through innovative solutions, SAS helps customers at more than 70,000 sites improve performance and deliver value by making better decisions faster. Since 1976 SAS has been giving customers around the world THE POWER TO KNOW®.