The preparation of management information in banks is a complex and costly process. First, data have to be collected from sometimes highly fragmented sources. Then the data have to be consolidated and put into correct and meaningful relation. Only then the actual work, namely the analysis and interpretation of the information can take place. Banks tackle this process by either investing considerable amounts of time and money into the construction and maintenance of technical infrastructures to support the task, or by having highly skilled staff manually collect data from a variety of sources and consolidate the information using desktop spreadsheet applications. Both ways are generally expensive, slow and inflexible.

Today, there are innovative alternatives to speed up the process of information collection, to facilitate analysis and to quickly reduce costs. By using such a product – in essence a business intelligence tool based on in-memory technology – for the implementation of a management information system (MIS) for a Switzerland based international private bank, Bernet & Partner have addressed all of the topics mentioned, i.e. have helped to streamline and speed up the process of information collection and consolidation, to reduce setup and maintenance costs, and to free up resources and make them available for the actual interpretation of the data. In addition, the flexibility and ease of use provided by the MIS solution allow management to go deeper in their analyses and to effortlessly adapt the points-of-view on the information analyzed.

The actual setup of the MIS was an impressively short process, i.e. weeks rather than months or years. During the setup, isolated key figures like assets under management per client, net new money per client, returns and margins were continuously made available for productive use – the first set of key figures was available only days after the project start.

We would like to share this innovative approach to the topic with the private banking innovation community; please have a look at the following presentation and two short movies which demonstrate the current state of our MIS’ functionality.

If you would like to either know more about what we’ve done for our client, or if you would like to share your thoughts on this post with us, feel free to contact us via info@privatebankinginnovation.com.

Michael Stoeckli / Bernet & Partner

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