Bank of Shanghai has selected Teradata to build its enterprise data warehouse to provide the bank with a single view of its business for analysis across departments and systems.
It will reportedly enable the bank to make better and faster decisions, effectively manage risks and optimize its customer relationship management. As early as 2004, BOS began to build its core banking system, "T24," which has been operational since May, 2006. As its business grew, BOS needed to develop analytical applications that allow queries and analysis of historical data from various business information systems. This need led the bank to the decision to build an integrated data warehouse platform to ensure high data quality for smooth business operations and development.
"We feel honored that BOS has selected the Teradata solution that offers a better price-performance. It fully demonstrates that the bank recognizes the performance of our MPP solutions and has confidence in our professional services and experience. This project is another strategic breakthrough for Teradata in China's banking industry," said Cliff Wu, vice president of Teradata's Greater China area.
Teradata will help BOS build a centralized data warehouse platform by integrating data from T24, personal banking, international business and credit card systems. An ETL system for extracting, cleaning, loading and transforming data will also be set up to ensure consistent and usable data. The single view of its business provided by the EDW will help BOS to deploy four major applications including anti-money-laundering capabilities, compliance with the 1104 regulations from the China Banking Regulatory Commission, historical data analysis for corporate banking and management analysis reporting.
The first phase of the BOS EDW project is expected to be completed in March 2008.