Customer Success | Business Intelligence

CUSTOMER SUCCESS 

Improving business intelligence

Customer   

SWIFT is the Society for Worldwide Interbank Financial Telecommunication, a member-owned cooperative through which the financial world conducts its business operations with speed, certainty and confidence. Over 8,300 banking organisations, securities institutions and corporate customers in more than 208 countries trust us every day to exchange millions of standardised financial messages.

Challenges       

As an industry co-operative, SWIFT faced two key challenges: 

Accessing insights in massive datasets

SWIFT found Excel and today's standard 2D reporting tools cumbersome for highly detailed analytical work.  Analyzing data on multiple spreadsheets was not scalable and prone to mistakes.  SWIFT needed software to simplify analysis of complex patterns and terabytes of historical data. Before Quantum4D it was extremely time consuming process to mine and discover insights into business flows.

Increased business intelligence for SWIFT member organizations

“The complexity and volume of our data – without even factoring in external economic and market factors – simply overwhelms and defies expression in page based frameworks like charts and spreadsheets.  We needed to look towards the future and think about innovative ways to access our information that went beyond today’s standard offerings.” said Laurent Desnouck of SWIFT.  Beyond accessing insights, the challenges associated with sharing business intelligence with their community meant an additional layer of time consuming work.

Why Quantum4D

SWIFT chose Quantum4D over other reporting tools for its ability to not only shorten their reporting process lifecycle but for its unique 3D data visualization and animation capability. While Quantum4D provides network graphs, scatter plots, bar graphs, etc., its unique ability to aggregate multiple data sources, and render them in 3D within a single workspace is a vast improvement over the use of spreadsheets for analysis. 

Results

With the assistance of Quantum4D, SWIFT streamlined its analysis and knowledge sharing framework.  SWIFT can now discover insights in their massive volumes of data instantaneously.   In addition, SWIFT is leveraging Quantum4D’s unique dynamic 3D visualization capability to share invaluable insights into the market structure and interactions among its SWIFT members.   SWIFT developed a 3D interactive map of the entire network based on data extracted from its data warehouse.  Users can now view the interconnections and transactions between its members dynamically over time.  Starting in 2009, SWIFT is deploying its Quantum4D-based system across the Americas, Europe, Asia, and rest of the world.  SWIFT analysts worldwide can now drill down by region, country, and BIC levels to gain new insights.  For an entity like SWIFT with a complex customer base, the ability to see a holistic, dynamic view of  their operations and to see emerging trends/bottlenecks  are key to better business intelligence and improved offerings for their customers.