With regards to banks, as the information accumulates in the production servers, the performance of the systems starts fading, storage need grows, backups and upgrades take longer - leading to extended business outages.
Charlie Gary from Meta Group says: "Data is growing at 125% per year. In a typical enterprise, up to 80% of this data is inactive and yet remains in production systems to cripple performance". This leads to data inconsistency and it can be avoided by a smart data management.
For banks, trying to balance the increasing demands of their customers and stay ahead of their competitors in the digital marketplace is a challenge. And a central concern is the management and monitoring of vast quantities of data. Banks feed data from many sources into centralized monitoring systems, but maintaining the quality of data in terms of accuracy, timeliness and other factors is increasingly difficult.
To help in overcoming these challenges, banks need
- An integrated ETL tool which will automate the process of Extraction of data from the source file, Transformation of the required file type from the original type to the required type so that it can be accessed from the target source and Loading the files into the target database or data warehouse.
An efficient ETL tool automates the entire ETL processes, enhances data warehouse performance, builds strong base for reporting and result in better ROI.
Lera’s EFICAZ, an ETL tool to cater the organization’s requirement of a strong base for reporting and enhanced data quality. EFICAZ was developed based on the real-time challenges that are banks facing while handling the huge data which is coming from their CBS. And it is perfectly suitable for banks that are using leading core banking system like Temenos T24 etc.
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