Magnitude is the business-driven technology choice for industry leaders.

The market and competitive landscape is decidedly different from even a decade ago

  • Increasingly stringent Regulatory reporting and compliance in response to the financial crisis of 2007 driven by the Basel Accords and Dodd Frank.
  • New consumer technologies and service expectations are making the Retail banking sector increasingly competitive with customer experience now key to acquiring new, and retaining existing customers.
  • Investment analytics and reporting is now a major competitive differentiator, allowing firms to keep customers better informed and themselves more customer centric.
  • Operational Risk management has come to the fore and is now seen as on par with credit, market, currency and other traditional classes of banking risks.
  • Campaign management and marketing have become more heavily data driven with new analytical techniques and data sources enabling the micro targeting of specific consumers across multiple channels.
  • Mortgage origination and servicing firms have first-hand experience of what happens when mortgage documentation and records are incomplete or plain wrong, and exposure to risk is not fully understood.

Yes, today’s banking landscape is very different. More and more firms are recognizing the necessity of a comprehensive data management strategy to both satisfy the needs of the business and the regulatory authority. All-encompassing initiatives such as BCBS 239 will affect most aspects of banking. Failure to have the right strategy can result in elevated levels of compliance and operational risk with detrimental effects on the balance sheet of banks and financial firms.

Part of this data management strategy is the need for business-driven technology choices that satisfy all the organization’s different internal and external stakeholders’ needs for timely, high-quality information. Essential to this solution is an automated data warehouse, reference data management, and master data management capability, where multiple sources of data, both transactional and operational, can be integrated, cleansed, aligned and made available in the right view and format for the business to use.

Develop a Sound Data Management Strategy

Employing state of the art visual technology to define the business information models that answer business questions and address compliance needs, the Magnitude Dynamic Information Warehouse (DIW) allows organizations to easily define the solution in terms of the business requirements, not the technical design. This unique business-focused approach, coupled with Magnitude’s underlying automation, results in a vastly accelerated delivery time, provides the flexibility to easily adapt to new or changing requirements, enables delivery and ongoing operations with fewer resources, and offers a significantly lower level of operational risk and lower Total Cost of Ownership (TCO) as compared with traditional data warehouse, reference data management, and master data management solutions.

By focusing on business priority and results, rather than technology, Magnitude DIW enables firms to integrate information from the various “silos” that exist within a modern diversified financial services organization. Whether the need is correlating account ownership across Wealth Management, Retail and Investments, or tracking branch profitability, or producing targeted marketing campaigns, and easily analyzing their results, Magnitude Dynamic Information Warehouse can integrate, validate, store and maintain the required information far faster, and with fewer resources, than any competing technology, while providing the flexibility to easily accommodate change in a constantly evolving market and regulatory landscape.

Read more via the links above for further details as to how Magnitude can play a part in a sound data management strategy.


Resource Library

White Paper
Data Warehouse Automation for Financial Services

Learn more about the advantages of data warehouse automation for a variety of use cases for banks and financial services firms.

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