Oracle Big Data Project To Bring Business Insight, Cross-Channel Efficiencies to Spain’s CaixaBank

CaixaBank, Spain’s largest domestic bank, has chosen Oracle to implement its new big data infrastructure. The project aims to develop a single data repository – or data pool – to provide business users insight and even ask questions of their data.

Tags: big data, infrastructure, integration, management, Oracle,

CaixaBank, Spain’s largest domestic bank, has chosen Oracle technologies and services to implement its new big data infrastructure. The project aims to develop a single data repository – or data pool – to provide business users insight and even ask questions of their data.

Oracle will implement an information management architecture for the bank consisting of software, pre-engineered systems and consulting from Oracle.  The architecture will provide one corporate data model and new advanced analytic capabilities,  according to Juan Maria Nin, CEO of CaixaBank.

“The implementation of this big data solution will help CaixaBank remain at the forefront of innovation in the financial sector, delivering the best and most competitive services to our customers,”  Nin said in a statement.

CaixaBank intends to use data to develop a 360-degree view of its customer activities, as well as integrate the data coming into the company from different channels (physical branches, web, phone and even ATMs). Another benefit is the new data pool will allow the bank to implement new products and services more quickly to be more competitive, he added.

Thanks to the Oracle data architecture, all information registered in one of the channels will be immediately available to all other channels. The approach will let banks create predictive models, offer better value for the customers, enable cross-selling and up-selling and create personalized offers to customers, Nin added.

Beyond providing human access to data insight, CaixaBank’s big data project with Oracle will also focus on implementing processes to manage risk, fight fraud, improve operational efficiencies and even get its products and services to market faster,  according to Oracle’s Leopoldo Boado, Spain country leader from Oracle Iberia.

The bank will also be better able to meet increasing government regulations as well as schedule banking stress tests. Because of new regulatory requirements banks have to answer thousands of queries. The new integrated data model will help the bank respond faster with more accurate answers, Boado added.




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