Large investment companies acquire massive amounts of information about customer transactions, market shifts and sales revenue every day. However, if that data rests in different information silos, brokers cannot use it to make optimal judgments about their clients, their risks and their opportunities. Fast-growing financial services firms often find they need the ability to capture data from multiple systems in near-real time and perform extensive data mining and real-time search. Shanghai-based Haitong Securities Co. Ltd faced that problem. Without a central view of its customers and financial performance across business lines, Haitong Securities Co., Ltd., depended on personal experience and individual judgment for many decisions. Operating with 220 branches, four million retail customers and more than 10,000 institutional and high-end customers, the firm needed to consolidate its disparate data, making it accessible for day-to-day decisions and long-term vision. Haitong Securities worked with IBM Business Partner Global Business Intelligence Consulting Co., to implement an analytics solution based on an IBM PureData System for Analytics (powered by Netezza technology) appliance and IBM InfoSphere DataStage and IBM Cognos Business Intelligence V10 software. Now the firm can segment customers based on investment style, current holdings and transaction history, targeting customers to drive cross-sales and up-sales. Historical analysis uncovers patterns that help identify lucrative investment opportunities, develop promising financial products and manage risk. The new system is providing significant rewards:
- Comprehensive reports can be compiled in a single day rather than 10 days—a 90 percent improvement that helps the company manage risk and take advantage of investment opportunities.
- Segmenting, targeting and serving customers more effectively has helped boost commission revenue by 10 percent through more cross-selling and up-selling.
- Resource requirements are 83 percent lower—instead of 2.5 full-time employees devoted to reporting, the firm can devote just half of a resource to that function and divert the additional resources to more valuable tasks.
Best of all, investors are earning higher returns and the company is enjoying rising profits. To learn more about how Haitong Securities is working smarter, see the case study.
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