Information Builders Case Studies Pershing Gains Financial Insight

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	Pershing Gains Financial Insight Information Builders

Pershing Gains Financial Insight

Information Builders

Technology Category	Analytics & Modeling - Real Time Analytics
Applicable Industries	Finance & Insurance
Applicable Functions	Business Operation
Use Cases	Predictive Quality Analytics Real-Time Location System (RTLS)
Services	Data Science Services
Challenge	Pershing LLC, a leading provider of clearing and financial services outsourcing solutions, was facing a challenge. They needed to find a way to deliver targeted analytical information to tens of thousands of busy brokers without requiring them to learn a report writer or deal with cryptic database technology. The company serves more than 1,100 financial organizations and independent investment advisors, who collectively represent nearly six million individual investors. Pershing has more than $800 billion on under administration. Previously these investment professionals could only access customer information via hard copy reports or standard files containing all their data, which they had to manage and use on their own. NetExchange Pro had some rudimentary reporting capabilities, but they were geared toward accessing information one account at a time or one investment professional at a time. As a result, many of these external users were requesting custom reports from Pershing’s IT department, which was putting a drain on programming resources. Read More
About Customer	Pershing LLC is a leading provider of clearing and financial services outsourcing solutions. The company serves more than 1,100 financial organizations and independent investment advisors, who collectively represent nearly six million individual investors. Pershing has more than $800 billion on under administration. The company is well known for its innovative use of technology, which extends to every facet of its operation. Pershing’s business intelligence environment, built using Information Builders WebFOCUS software, delivers aggregate views of account balances, financial holdings, and trades to tens of thousands of business users, right within their familiar broker workstation application. Read More
Solution	Pershing decided to use WebFOCUS BI software to deliver real-time nuggets of intelligence within the context of Pershing's existing NetExchange Pro brokerage platform. The company installed WebFOCUS on a Unix platform along with Oracle Database 10g, where about 1TB of customer data is stored. Developers created a dual-purpose architecture that allows brokers to either use a browser-based or a Windows-based version of the NetExchange Pro software to access BI capabilities. A few clicks of the mouse generally yields the information they are looking for. In addition to analyzing historical data in a warehouse, Pershing’s BI environment can access data from the firm’s operational systems to perform real-time analytics. The same BI applications access aggregate data to help managers keep tabs on how many of those transactions are being requested, how many have been processed, and how many are pending. It also helps them submit “what if” queries associated with customer accounts, such as “show me a list of all customers who have bonds maturing in the next 30 days.” Read More Log in to view content
Contents

Technology Category

Analytics & Modeling - Real Time Analytics

Applicable Industries

Finance & Insurance

Applicable Functions

Business Operation

Use Cases

Predictive Quality Analytics

Real-Time Location System (RTLS)

Services

Data Science Services

Challenge

Pershing LLC, a leading provider of clearing and financial services outsourcing solutions, was facing a challenge. They needed to find a way to deliver targeted analytical information to tens of thousands of busy brokers without requiring them to learn a report writer or deal with cryptic database technology. The company serves more than 1,100 financial organizations and independent investment advisors, who collectively represent nearly six million individual investors. Pershing has more than $800 billion on under administration. Previously these investment professionals could only access customer information via hard copy reports or standard files containing all their data, which they had to manage and use on their own. NetExchange Pro had some rudimentary reporting capabilities, but they were geared toward accessing information one account at a time or one investment professional at a time. As a result, many of these external users were requesting custom reports from Pershing’s IT department, which was putting a drain on programming resources.

About Customer

Pershing LLC is a leading provider of clearing and financial services outsourcing solutions. The company serves more than 1,100 financial organizations and independent investment advisors, who collectively represent nearly six million individual investors. Pershing has more than $800 billion on under administration. The company is well known for its innovative use of technology, which extends to every facet of its operation. Pershing’s business intelligence environment, built using Information Builders WebFOCUS software, delivers aggregate views of account balances, financial holdings, and trades to tens of thousands of business users, right within their familiar broker workstation application.

Solution

Pershing decided to use WebFOCUS BI software to deliver real-time nuggets of intelligence within the context of Pershing's existing NetExchange Pro brokerage platform. The company installed WebFOCUS on a Unix platform along with Oracle Database 10g, where about 1TB of customer data is stored. Developers created a dual-purpose architecture that allows brokers to either use a browser-based or a Windows-based version of the NetExchange Pro software to access BI capabilities. A few clicks of the mouse generally yields the information they are looking for. In addition to analyzing historical data in a warehouse, Pershing’s BI environment can access data from the firm’s operational systems to perform real-time analytics. The same BI applications access aggregate data to help managers keep tabs on how many of those transactions are being requested, how many have been processed, and how many are pending. It also helps them submit “what if” queries associated with customer accounts, such as “show me a list of all customers who have bonds maturing in the next 30 days.”

Impact #1	A powerful BI environment that delivers accurate information about account balances, financial holdings, and trades to improve the customer experience.
Impact #2	Pershing’s BI environment can access data from the firm’s operational systems to perform real-time analytics.
Impact #3	The same BI applications access aggregate data to help managers keep tabs on how many of those transactions are being requested, how many have been processed, and how many are pending.

Impact #1

A powerful BI environment that delivers accurate information about account balances, financial holdings, and trades to improve the customer experience.

Impact #2

Pershing’s BI environment can access data from the firm’s operational systems to perform real-time analytics.

Impact #3

The same BI applications access aggregate data to help managers keep tabs on how many of those transactions are being requested, how many have been processed, and how many are pending.

Benefit #1	In a relatively short timeframe, more than 80 percent of its potential user base has adopted the new BI capabilities– about 75,000 users total.

Benefit #1

In a relatively short timeframe, more than 80 percent of its potential user base has adopted the new BI capabilities– about 75,000 users total.

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Overview

Pershing Gains Financial Insight

Operational Impact

Quantitative Benefit