Over the last few years, Banks have been struggling to regain profitability, thanks to the subprime crisis which has forced banks to write off toxic loans on their balance sheets. Banks have also been impacted by consolidation in the industry with M&As leading to increased data complexity. Shifting demographics and untapped customer segments mean that banks have to recalibrate their marketing strategy to reach out to new customer segments. Moreover, the tight regulatory environment has forced banks to comply with these norms but has in turn increased overheads. Banks today also have to deal with siloed applications and business units that don’t talk to each other.
Banks can leverage QlikView’s in-memory analysis to rapidly bring together data from disparate sources to gain strategic insights into customers, transactions and products and slice and dice data based on a variety of parameters. Business users can utilize powerful self-service features of Qlik to get answers to certain key business questions and take more informed business decisions.