MADRID, Spain and REDWOOD CITY, Calif., September 05, 2012 -
- Informatica Corporation (Nasdaq:INFA), the world’s number one independent provider of data integration software, today announced that Grupo Banco Popular, the leading Spanish financial services group, is using Informatica Data Quality, a key component of the Informatica Platform to improve services for its six million customers.
- Banco Popular is increasing the value of data by ensuring that all the information associated with its customers is accurate, actionable and holistic. Simultaneously, the bank is using this authoritative view of customer data to lower data processing costs and increase the return on data.
- The bank’s Quality of Information Office, belonging to the Corporate Information Center, publishes a monthly Information Quality Index covering both physical and juridical entities. The Quality Index is elaborated using various types of information, including addresses, contacts, socioeconomical data, banking activity data and occupation, amongst other types of data. Previously, the creation of the Quality Index required a significant amount of resources, mainframe processing time and money. Informatica Data Quality automates and streamlines this process, and is anticipated to raise the Index’s measurement of data quality from 75 percent to more than 90 percent.
- At the same time, specific variables have been included in the legal entities index in order to optimize consumption of capital and provisions, as well as contrasting other fundamental variables to calculate the probability of non-payments and the Basel models. A more accurate calculation of the provisions required for real estate assets will allow the bank to increase its return on data.
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- “The Informatica Data Quality solution stood out for its rich functionality, the ease of implementation and the seamless integration with the bank’s architecture, where we are already using Informatica PowerCenter,” says Alberto Romero, director of the Banco Popular Quality of Information Office. “The support received from Informatica, for both the initial installation and the subsequent updating and specific developments, has been excellent, allowing us to make strong progress toward meeting our business objectives.”
- “Banco Popular’s use of the Informatica Platform illustrates how accurate, timely data is instrumental in helping financial services organizations build customer loyalty, grow revenues and meet demanding compliance objectives,” said Ivan Chong, executive vice president and general manager, Data Quality, Informatica. “Informatica Data Quality ensures that authoritative and trustworthy data is available to all stakeholders across the bank, for all projects and business applications. It’s transforming the way financial services organizations like Banco Popular operate.”
Informatica Corporation (Nasdaq:INFA) is the world's number one independent provider of data integration software. Organizations around the world rely on Informatica for maximizing return on data to drive their top business imperatives. Worldwide, nearly 5,000 enterprises depend on Informatica to fully leverage their information assets residing on-premise, in the Cloud and across social networks. For more information, call +1 650-385-5000 (1-800-653-3871 in the U.S.), or visit www.informatica.com. Connect with Informatica at http://www.facebook.com/InformaticaCorporation, http://www.linkedin.com/company/informatica and http://twitter.com/InformaticaCorp.
Note: Informatica, PowerCenter, Informatica Platform and Informatica Data Quality are trademarks or registered trademarks of Informatica Corporation in the United States and in jurisdictions throughout the world. All other company and product names may be trade names or trademarks of their respective owners.