OREANDA-NEWS.  November 23, 2012. Sviaz-Bank has completed the first stage of a large-scale project to set up a corporate data warehouse that it has used to automate the first block of mandatory reports for the Central Bank of the Russian Federation and introduced a data quality verification system, reported the press-centre of Sviaz-Bank.     

The data warehouse has been built on the basis of the Neoflex Reporting product and will serve as a platform for consolidating information from the Bank’s accounting systems, automating different kinds of accounting, and solving business analysis problems.

Sviaz-Bank has a centralized IT architecture, and now a decision has been taken to develop it into an integrated corporate data warehouse that will consolidate information coming from its 52regional branches. After a tender, the Neoflex Reporting system has been selected as a platform for the data warehouse. The key objectives of the project include improving the quality and authenticity of information about the Bank’s business and reducing the time required to collect and prepare data for solving a wide spectrum of analytical problems and keeping Bank accounts.

“Already at the first stage of the project, we succeeded in loading data into the warehouse for verification every day. Now that we verify information automatically, we have cut out errors caused by manual processing. As things are today, we have, together with Neoflex experts, put into operation the first group of mandatory reports for the Bank of Russia, decrypting reports, and reports of the data quality verification system,” said Vladislav Bykov, Director of Sviaz-Bank’s Information Technologies Department.

“The well-tuned work of the joint team of experts from the Bank and Neoflex has helped us to succeed at the first project stage in solving complex technical and organizational problems that confronted us in having the warehouse loaded regularly with data from over 50 branches of the Bank. The next goals of the project are to expand the list of mandatory reports and automate management accounting, which we intend to accomplish within the next few months,” added Vasiliy Kuzmin, director of Neoflex company’s Bank Analytics and Accounting section.

Neoflex is a leading provider of software and professional services in information technologies for the financial market. Building integrated IT landscapes of financial institutions is the company’s principal activity.