KeyBank Unlocks and Grows Relationships with Oracle Financial Services Analytics
KeyBank Strengthens Customer Relationships and Profitability with Expanded Client Insights
KeyBank, a rapidly growing regional bank, understands that the combination of strong and profitable customer relationships will unlock the door to continued success. Focused on this goal, the bank wanted to deliver consistent information across the enterprise, driving a 360-degree view of the client relationship and empowering team members with more timely and actionable intelligence.
Scalability and extensibility were important factors when considering a new solution for commercial client profitability. Oracle Financial Services Analytical Applications deliver both and much more - it is a powerful business rules and analytics engine that puts dynamic, actionable information in the hands of the professionals who need it." - Patrick Peck, Senior Vice President, Business Leader for Client Profitability, KeyBank
- Provide relationship managers, team leads, line-of-business leaders, and analytics teams with more actionable insights into the bank's client relationships
- Drive new levels of relationship stability and profitability with more granular insight into critical commercial banking customer metrics, such as relationship gross revenue, net income, lease vendor profitability, and more
- Ensure that the new customer insight platform is extensible and scalable to meet the enterprise needs of the large and growing financial institution
- Empowered commercial banking team members with more timely, accurate, and usable insight into the scope, depth, and viability of customer relationships to strengthen those relationships and drive profitable growth
- Simplified the delivery of KeyBank's critical client metrics to relationship and business managers, as well as reduced time and expense related to manually compiling this data thanks to expanded, automated, and more flexible reporting
- Enabled team members to dynamically drill down into critical customer metrics that can guide more informed business decisions and offerings, including gross revenue, net income, return on economic capital, total credit exposure, and product penetration
- Extended visibility into financial performance with the Oracle Financial Services Analytical Applications platform, which aggregates data from 24 systems at KeyBank and presents income statement views via dashboards that closely mirror management reporting
- Ensured high levels of security with data and object-level controls that enable KeyBank to manage dashboard views and access to data based on user groups and roles
- Ensured an easy-to-use solution that helps users achieve rapid value
- Enabled account/relationship expense allocation transparency and multi-dimensional views of profitability for more informed decisions
- Created a single source for commercial client profitability reporting, improving accuracy and reducing IT complexity
- Gained highly scalable and extensible solutions that KeyBank could leverage for commercial client profitability and later, if need be, scale to the entire banking enterprise - optimizing return on investment as well as delivering unprecedented insight across the organization
KeyBank worked with Huron throughout the project, going live in Fall 2016. The implementation of Oracle Financial Services Analytical Applications and Oracle Business Intelligence Enterprise Edition was a major initiative at KeyBank. As such, ensuring strong executive sponsor support, financial leadership, and a strong partnership between business stakeholders, finance, and technology were priorities from day one. KeyBank continues to expand its use of the platform and the strong analytical capabilities it provides.
"Oracle Financial Services Analytical Applications enables us to organize profitability data around the client and relationship manager, which is very important to us. We now have the flexibility to rapidly add or change client profitability analytics to meet the changing needs of our line of business stakeholders."says Patrick Peck.
KeyBank is an American regional bank headquartered in Cleveland, Ohio. Upon completing its purchase of First Niagara Bank in 2016, Key became the 18th-largest U.S. bank by total assets. It operates in 15 states and holds assets of approximately $136.5 billion.
Huron played an instrumental role in the project's success. The group's involvement began with a six-month requirements and design engagement. KeyBank required an implementation plan that would enable the group to remain strategically aligned with the company's broader data supply chain initiative, which was also ongoing. Huron's expertise and extensive knowledge of Oracle Financial Services Analytical Applications and Oracle Business Intelligence Enterprise Edition were vital to achieving this objective. The group then worked with KeyBank through implementation and rollout, and continues to help the financial services organization optimize its use of the powerful platform.