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Financial services firms around the world are rapidly innovating. In fact, the birth of FinTech as a sector has pushed traditional financial services firms to speed up their innovation efforts, using next-generation technologies like AI and data analytics to automate several key processes.
This is true for all kinds of financial services firms including asset management firms, investment banks, private equity firms, insurance and reinsurance companies, brokerages, lending firms, and even commercial real estate and automobile financing companies.
Irrespective of the type of product or service your organization offers, data has become one of the most important assets to drive decision-making. Business leaders in financial services are using data analytics, advanced and predictive analytics, and even AI to spot patterns and trends. These trends combined with predictive analytics models help derive unique insights. From cross-selling and up-selling various financial products or services to enhance customer experience, easy access to operational reporting and analytics has become the key. Additionally, it is also becoming more important to use data to drive decisions around organizational structure, payroll, and other HR-related functions.
Several enterprises in this sector rely on Orbit Reporting and Analytics for self-service analytics needs. The key advantages of Orbit include:
Orbit, an unmatched operational reporting and analytics provider for asset management firms, insurance companies, brokerages, commercial lenders, FinTech firms, etc.
The financial services industry deals with highly confidential data and information. Therefore, it is absolutely essential for a reporting and analytics solution to ensure compliance with all data security and governance requirements. Having said that, the financial services sector is also highly competitive where the best players often win thanks to the quality of customer service and experience. The key to delivering this CX is reporting and analytics. Using the right solution for analyzing data from an ERP and converting it into useful insights is key to delivering to customers what they need.
The financial services industry is also highly dependent on people and their pay structures. Having access to the right payroll analytics solution is critical.
Orbit’s experience in serving many financial services companies makes it an ideal solution for operational reporting and analytics.
A fast-growing financial services firm, that specializes in institutional equity, fixed income sales and trading, and also serving the middle market with investment banking services, prime brokerage, and commercial real estate financing, was looking for a reporting and analytics solution. The initial use case was to offer a self-service reporting solution for business users to analyze payroll data. Orbit helped the client with the following:
- Operational Reporting for Finance and HR Leaders
- Reports and analytics from Oracle’s Finance and Oracle HCM, including interactive insights and dashboards
- Additionally, when we initially implemented the solution, we helped the client seamlessly integrate with Oracle EBS