Eastern Bank

Virtual Strategy provides Eastern Bank with an enterprise analytics solution that integrates numerous sources of data into an information portal where users access the latest information on operations and profitability of their branches, products, customers and accounts.

Executives use Virtual Strategy's advanced scenario management capabilities to proactively assess the impact of changes in bank operations and services. Managers and corporate executives can manage cost centers, product lines and customer segments and play out what-if scenarios using actual data accurate down to the account level. Since VSI does not rely on summary-level data, these scenarios provide accurate figures about the global impact of initiatives allowing for more accurate decisions.

Loan officers and department heads also use the system, obtaining up-to-date operational data and using the portal to access and share tactical information. The included wizards have enabled managers to create and view their own reports in a fraction of the time.

Eastern Bank continues to expand its Virtual Strategy portal, creating a larger user base across multiple departments, enabling users to share enterprise level information with one another to facilitate decision-making.

"In less than a month Virtual Strategy provided the bank a system that gathers information from different transactional systems and data warehouses to facilitate analysis, decision making, scenario management and proactive consideration of alternatives in real time. Virtual Strategy's solution is scalable across our entire enterprise, with a low cost of implementation and operation"

- LLoyd Hamm,
Executive Vice President
& Chief Technical Officer

BUSINESS NEED:

• Powerful analytics to help executives with profitability at every level of the enterprise
• Easy to use, web based interface
• Rapid implementation

SOLUTION :

• Provided information portal disseminated to branch managers
• Built a straightforward enterprise model that allowed real time analysis of profitability at product, customer, branch, and corporate levels
• Determined cost savings of products for immediate payback of solution

IMPLEMENTATION:

1 Month