Israel’s Leading Financial Institution, Bank Hapoalim, Upgrades Teradata Warehouse, Adding Profitability Analytics
Analytical expansion will enhance finance and performance reporting environment.
MIAMISBURG, Ohio — Teradata Corporation (NYSE: TDC), the global leader in enterprise data warehousing, announced today that Bank Hapoalim, the leading financial institution in Israel, is continuing the expansion of its Teradata Warehouse as part of an ongoing program to integrate and centralize data for enhanced financial reporting.
“Bank Hapoalim will benefit from a unified financial infrastructure,” said Haya Leaman, manager of information systems and the data warehouse infrastructure, Bank Hapoalim. “We will have a single view of our customers across the organization based on one data store — and for the first time we’ll be singing from ’one prayer book.’ We needed this solution to achieve uniformity in financial and management reporting as well as for meeting regulatory requirements.”
The expansion includes the installation of software tools and new hardware for analyzing and reporting financial results, including the deployment of Teradata Value Analyzer, a software and services solution providing detailed, enterprise profitability analysis to enhance its finance and performance measurement capabilities. This project is part of a review of the bank’s financial infrastructure that began in 2005, when regulatory changes such as Basel II required enhanced data warehouse capabilities and tools.
Bank Hapoalim’s data volume continues to grow along with its success, and the current upgrade will extend the multiple-terabyte growth of its Teradata system over the past three years.
Speaking in April at the international Teradata Universe conference in Lisbon, Portugal, Leaman said that the financial infrastructure is the platform for Basel II and other regulatory reporting and it enables the bank to improve analytics for more precision in decision making. Bank Hapoalim continues to upgrade its management information systems, and the Teradata Value Analyzer implementation is expected to be completed this summer.
“We have used our data warehouse to support deeper data analysis — and more effective marketing,” Leaman said. “The Teradata analytical solution environment will continue to augment our efforts to better understand business costs and profitability drivers, and improve decision-making.”
Bank Hapoalim first implemented its Teradata Warehouse in 1997 with a focus on optimizing its customer data for improved marketing. “The Teradata system has helped us improve our returns on eBanking and enhance the user experience at the web site,” Leaman said. The bank reports that its marketing campaign activities have grown dramatically from a few each year a decade ago, to more than 500 campaigns each year.
Once the Teradata tools were delivering high ROI on marketing, the bank began building an enterprise data foundation for regulatory reporting and more sophisticated financial analysis. In 2004 the bank began migrating all financial source system data into the Teradata Warehouse to provide operational system users with access to financial data. In support of this purpose, Bank Hapoalim continued to work at standardizing financial data definitions and developing consistent metadata for all data items managed in the warehouse.
Bank Hapoalim credits the Teradata system with greatly enhancing the accuracy and speed of its compliance reporting. “We are aiming to be completely compliant (with regulations),” said Leaman. “Our data warehouse serves as the source for the development of our risk models. This will contribute to and optimize our capital adequacy levels which in turn will improve the bank’s return on equity.” The deployment of Teradata Value Analyzer will provide more insight into financial performance and profitability.
“Bank Hapoalim is a seasoned and sophisticated user of the Teradata environment, and they clearly know how to leverage intelligence to boost performance,” said Micha Rosen, account manager for Bank Hapoalim at I. E. Mittwoch & Sons Ltd. “The addition of Teradata Value Analyzer to their finance and performance management capabilities further extends their technology leadership and vision as they continue to cultivate strong, profitable business growth.”
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