Allied Irish Banks, Banco Nacional de Costa Rica and WesCorp Among Financial Institutions to Select Hyperion for Modeling, Planning and AnalyticsHyperion announced that its Business Performance Management solutions have been selected by some of the world's leading financial services organizations to increase efficiency and profitability. Among the global financial services institutions using Hyperion solutions are Allied Irish Banks, Ireland's leading banking and financial services organization; Banco Nacional de Costa Rica, the largest bank in Central America; and Western Corporate Federal Credit Union (WesCorp), the largest retail corporate credit union in the United States. "Our financial
services customers are looking for ways to continuously
drive profitability and reduce operating costs by making
better business decisions," said Nazhin Zarghamee, chief
marketing officer for Hyperion. "Our Business Performance
Management solutions enable them to gain visibility into
their operations and to better manage those operations. As a
result companies in financial services are better able to
align plans and strategy, establish accountability and gain
an integral understanding of their total business
performance in order to drive execution and results." To help meet the information and reporting analysis needs for its global operations, AIB purchased the entire Hyperion Business Performance Management suite: Hyperion Essbase, Hyperion Analyzer, Hyperion Planning and Hyperion Performance Scorecard. "The Hyperion
system gives us the added flexibility to support our new
operating model and additional in-depth analytical
capability," said Tom O'Brien, senior manager, Financial
Control, AIB Group. "We wanted to build a balanced scorecard
approach to managing business. We therefore needed a
solution that would allow managers at any level to be able
to analyze or drill down to the requisite level of
information in order to improve decision making. We believe
it will help us get more of a handle on the true nature of
the performance of the business." Banco Nacional de Costa Rica Offering a full range of personal and corporate financial services, Banco Nacional de Cost Rica has US $2.6 billion in assets, 140 branches and 246 automatic tellers. More than 4,400 employees are involved in commercial banking, stocks and bonds, pension and investment funds. With so many products it was important for the bank to learn the true cost and profitability of each one. To get the information necessary to determine costs, Banco Nacional de Costa Rica implemented Hyperion Business Modeling with the assistance of Van der Leer S.A. from San Jose, Costa Rica, a Hyperion partner with extensive business modeling and Activity Based Management expertise. As a result employees should now have a better understanding of the profitability of products, clients and internal processes and can evaluate the effect of changes to them. "Hyperion
Business Modeling lets us analyze our processes in general
terms and in detail," said Manuel Abellan, Costs Director at
Banco Nacional de Costa Rica. "With this solution, we are
not only able to calculate accurate costs, but also to model
operational scenarios to simulate different transactional
volumes and personnel changes." WesCorp The largest retail corporate credit union in the United States, with assets of more than $23 billion, WesCorp serves 1,000 credit unions in 36 states. It provides investment, credit, funds transfer, payment and settlement services. As a cooperative, corporate credit union, WesCorp is focused on maximizing member return through efficient, streamlined operations. Recognizing the limitations of spreadsheets, the credit union began searching for a solution to model its business performance. It selected Hyperion Business Modeling and Hyperion Essbase to help realize a greater understanding of its costs as well as member, business unit and product profitability. "In today's economy, it is more important than ever to have an accurate understanding of our performance, where we can become more efficient and how we can improve member services," said David Scott, WesCorp financial planning manager. "Hyperion software will give us the information we need at a tactical level, but at a strategic level, it will also help us to better understand our costs and use this information to improve the way we do business." Source:
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