Financial service experts understand the language of business, helping decision makers see what’s coming. But with every new regulation there’s another software solution to manage. You need a single solution that’s easy to use, easy to share and pull in all your data in real-time.
Data is a source of significant competitive advantage for any organization. Financial institutions need to support business activities and decision making in a fashion that is timely, relevant, verifiable, and personalized to meet a variety of stakeholder requirements. However, it is easy for financial services firms to become overwhelmed by the volume and complexity of unstructured data.
Sunovaa customized solution inputs you in control of your data. Get back to leading your business with every meaningful metric in the palm of your hand. Sunovaa Solutions connects to all your data so you can see exactly what’s going right and receive notifications when it’s not. Want to automate financial reports? Easy. Need to glean actionable insights across data silos? Done. Bring more to the boardroom with Sunovaa Solutions.
Re-shaping the Future of Banking
Banks often contain copies of enterprise data,the problem is exacerbated by the new sources of data that modelers want access to. The oft-repeated phrase that “the analytics problem is a data problem” underscores the need to closely link analytics and data management.
Business intelligence support better business decision-making. Thus a BI system can be called a decision support system (DSS). BI uses technologies, processes, and applications to analyze mostly internal, structured data and business processes while competitive intelligence gathers, analyzes and disseminates information with a topical focus on company competitors.
Over come the strategic and operational challenges.
Data transparency is a critical success factor for overcoming operational and strategic challengesInsurance companies are currently facing the challenge to continuously adapt reporting- and planning processes to both internal and regulatory requirements, as well as keeping up with competitive pressures.
Insights in the market changes
Unless you go through the expensive and time-consuming process of creating your own proprietary system, good financial data and reporting is difficult to come by. Sunovaa solutions builds dashboard, track the key financial indicators affecting your business and driving your bottom line.
Companies in the consumer banking and financial services industry typically have data warehouses and Business Intelligence tools for reporting on and analyzing customer behavior to better anticipate their needs, and for optimizing operations.
Retail Banking Operations: Analytical Reporting on multiple products, bundles, and packages.
Commercial Banking Operations: Streamline and automate commercial banking operations with flexible, agile processes.
Finance: Optimize financial processes and provide real-time financial, risk, and operational insights.
Insurance companies can monitor changes, such as new regulatory guidelines, low interest rates, demographic change or new trends, for example, real-time processing, mobility-, cloud- and big data solutions, create risks as well as opportunities for existing business models.
In order to analyze the effects and strategic decisions, a company-wide uniform and consolidated database is a critical success factor. It is a fundamental requirement for data transparency and -quality of reporting- and planning processes and the basis for mastering upcoming challenges. This can be addressed by Enterprise Data Warehousing, that will enable setup of integrated enterprise BI-solutions.
With access to your most critical information all in one place, Sunovaa cusotmized customized data solutions makes you possibly the most successful agent of the month.
Business Intelligence solutions provide business analytics for executives that support tactical data initiatives and enable long-term planning and strategic thinking. BI enables business analytics that optimize customer insight at the point of interaction while also providing information to help improve the effectiveness of your operations.
Bank executives have the most daunting tasks of taking decision based on multiple parameter defined by the regulatory authorities and at the same time follow the profitability guidelines over the huge data together from multiple business lines. With Sunovaa Solutions you’ll have the visualization of complex data to answer any question.
Insurance industry deals with a titanic amount of data, data visualization is and will remain an absolutely fundamental tool for practicing its trade. While insurers have long been skilled in collecting information, they now generate and acquire exponentially growing, disparate, and complex quantities of data — and depend on them, perhaps in some ways for their very survival, in today’s marketplace.
The industry spends considerable resources and energy collecting and storing data, not just because it produces a lot of it but more likely because the regulatory environment mandates storing much of it. The industry hasn’t spent nearly enough effort aggregating its data across functional silos, integrating internal data with third-party data, analyzing the data, and distributing the resulting insights to people who can take action on it.
For example, imagine a claim for hail damage to an auto on a given day in the insured location. The insurer would invariably want to know: Would a claims adjuster at my company know the garaging address for the policy listed on the underwriting system? Let’s say maybe. Would he or she know what the weather was in insured location on that day? That’s another maybe. Would all these pieces of data come together at the same time and be presented to the adjuster in a way that’s easy to analyze? That’s highly unlikely. And that’s exactly where visualization becomes so helpful.
Unquestionably, the tried-and-true bar, line, and pie charts have served us well. But when the complexities of relationships are more nuanced and the data becomes more unstructured, visual analytics need to become more dynamic, multidimensional, and customized.
The pace of change in the financial services industry is increasing rapidly and organizations must move quickly to respond to market needs and customer demands. To support timely, accurate decisions and innovation, financial institutions must have access to the right business data presented in the right visual context. Banks, insurers and capital markets firms are facing data overload as social media and advanced technologies are producing more data points for analysis. How can executives make the right decisions in a timely manner? How can business data be presented in the right visual context?
The ever-increasing speed and complexity of data has forced a change in traditional business intelligence and reporting practices among financial services organizations. With advances in visualization techniques, visual business intelligence has emerged as a way to simplify and synthesize complex data so it’s easier to present to line managers and executives
Sunovaa partners with your organization to deliver optimised optimized visualization solutions that can deliver insights to make you win in market place.
Bank executives have the difficult task of pulling massive amounts of data together from multiple business lines, all while under the watchful eye of regulators and shareholders.Sunovaa Solutions brings together your most important metrics, adapting to an ever-changing industry.
Unleashing the value of advanced analytics in Insurance. Advanced analytics can transform how insurers do business, but realizing its potential requires complex, large-scale organizational changes.
Life insurers and property-and-casualty insurers have lagged behind other financial-services sectors, but they are now catching up in their adoption of predictive and optimization models in business processes such as sales, marketing, and service. The overall effect of these developments will be greater depth and breadth of analytics talent throughout organizations, significant improvements in management processes, and new products that deliver greater value to customers and to society.
While the impetus to invest in analytics has never been greater for insurance companies, the challenges of capturing business value should not be underestimated. The key for insurers is to motivate their highly skilled experts to adopt the newest tools and use them with creativity, confidence, and consistency.
As the global economic downturn evolves into recovery, financial services companies seek in-depth insights to solve critical business issues, reduce risk, and drive growth. By applying advanced analytics to capture and understand their data, companies in the banking and securities, insurance, and investment sectors can leverage their data to build stronger, more robust business models. In doing so, they can make more proactive decisions that deliver customer value.
For financial firms that face challenges of increased governance, risk, strict compliance guidelines, and worldwide economic instability, the need for data-driven decisions is even more crucial. “To navigate the complexity and manage capital more effectively, it’s essential to develop advanced analytic forecasting capabilities and financial management techniques”.
Banking analysts are building data models that can predict loans likely to become delinquent in order to initiate proactive action. Large banks in the United States are initiating transfer of servicing rights to sub servicing organizations for specific loans in default.
Identifying loans that are to be moved to sub servicing organizations requires detailed analysis of various data elements such as history of the loan, the borrower, and the loan documents.
Sunovaa Data Solutions use predictive analytics to create heat maps that identify regions that are known for mortgage fraud, showing details at a zip code level and possibly at an individual level. This enables effective analysis when the appraisal process is being conducted for a new loan application and can help prevent potential property valuation, occupancy, and short-sale fraud.
Sunovaa Big Data technologies solutions can help in the identification of household spending patterns by building a richer view of customers. Banks can analyze transaction logs for all their products and identify spending trends at the household level. This provides a better view of the customer’s true ability to pay back loans and also helps identify future cross selling and up-selling opportunities.
Sunovaa Data Solutions works with Bank traditional enterprise data from operational systems related to customer touch points such as:
Insurance agents deserve a raise. No seriously, staying on top of new products, changing guidelines, lengthy procedures and applications is a full-time job. In order to deliver the best possible product and solutions you need reliable, real-time data that doesn’t let you down.Sunovaa Data Solutions saves you time, so you can save customers money. With access to your most critical information all in one place, Sunovaa Solutions makes you agent of the month–every month.
Today’s explosion of data is changing the work we do, the products we make, and how companies engage with customers. In the wake of big data, new analytics, and new data techniques, financial services organizations are becoming more data-centric than ever before to drive value.
This data focus leads to new insights and business value while saving costs and improving process efficiency. Sunovaa can empower your firm to move faster along this journey to transform data into actionable insights and effectively leverage information across your entire organization.