FIS Blog

Discover a New Way to Explore Information – Don’t Let Data Be a Hidden Asset

Tim Probst

April 09, 2019

Financial institutions generate and process vast quantities of data – a treasure trove of information that can be a valuable asset in itself. By transforming their data into actionable intelligence, firms are finding new ways to solve complex problems and operate more effectively.

All too often, valuable information is buried in the mountains of data created and stored by financial institutions, requiring data scientists to bring the information together to make sense of it all. Information consumers making business decisions should not need to be data scientists to gain insight and perspective from their business data. They need a trusted guide, an information GPS, to lead them to find true insight.

Are you ready to tackle your data challenges?

With meaningful insight, today’s most forward-thinking organizations do great things. Harnessing the right information not only gives them the hindsight to understand what’s happened in the past and why, it also provides a view into their current portfolio of assets to enable enlightened business decisions and strategies.

Historically, however, the very process of turning data into information has been one of the most difficult problems for a financial institution to solve.

The right data has often been hard to get to, spread across multiple systems / reporting solutions and disparate, or simply inaccessible sources.

Inconsistent governance can compromise the integrity, quality, availability and usability of data, and make it harder to audit and control.

Reporting processes may be inefficient. For example, firms might use a range of non-standard or manual business intelligence methodologies and, in turn, consolidate the results manually.

The IT architecture that houses the data can also struggle to scale up to high volumes. Processes and databases may need to be synchronized – and the underlying technology may lack the long-term business and technical capabilities necessary to meet business demands.

What about those information presentation obstacles?

Even when an institution has addressed its key data management issues, it can be hard to present data in a meaningful way to support decision-making.

The data itself may be erroneous, incomplete, inaccurate, or just too scattered and complex to gather, aggregate, and reveal historical trends.

Institutions struggle to define metrics and KPIs across disparate systems and products, and overcomplicate data visualizations by not defining sufficiently clean, direct and simple graphics.

And again, the whole data infrastructure can let you down, by failing to adapt to changing business requirements and making information inaccessible to the users that need it.

Move from hindsight to insight with FIS

FIS ACBS group offers fully integrated solutions for reference and master data, data quality and data management.

While FIS’ ACBS Servicing solution takes care of the security, rules-driven validation and audit of master data, ACBS RealTime optimizes the quality of data by strengthening governance and control with in-process monitoring, metrics and exception management, and by supporting data profiling.

Additionally, ACBS DataMart allows you to integrate, access and analyze comprehensive historical trending and analytical data to help shape strategies for revenue growth, risk management and customer relationships.

Information, at your service

FIS constantly pursues the creation of best-in-class solutions to help financial institutions benefit the most from the valuable information buried in the various operational databases within their enterprises.

Our new, powerful Portfolio Asset Information System provides an easy-to-use, information-as-a-service solution for visualizing your asset portfolio across different core operational systems.

This plug-and-play, mobile-enabled solution presents and makes sense of data from systems that contain similar business information but disparate information structures.

With predefined dashboards and reports using the latest business intelligence technologies, and a hosted or on-premise, visual interface, portfolio managers, risk managers and executives can explore their portfolios and gain access to, and insight from, key business metrics on their assets by product, risk rating, industry, geography and other key business attributes.

Previously, this kind of comprehensive, cross-asset view of the portfolio would not have been possible without significant custom development.

But now, institutions of all sizes can cut straight through a fragmented landscape of technology to gain clear insight from valuable operational data turned in to true business information.