OpenText aims to help transform Asian banks’ data access and storage
Albert Tay, financial services director at OpenText, explains how the company’s range of offerings can help banks manage their data no matter the stage of their technological maturity. December 14, 2012 | Carol Wheatcroft“Big Data” is a theme frequently mentioned by banks and vendors in the context of unstructured data, but it tends to mean different things to different players. For OpenText, a leader in enterprise information management (EIM), the emergence of the Big Data theme has opened up new opportunities which the company is keen to exploit. According to Albert Tay, financial services director for Asia, “For some players, Big Data is about data storage while for others, it is about business intelligence (BI) tools to analyse the data. For OpenText, it is being able to help banks integrate all the Big Data services that they have.” Tay pointed out that for any bank to embark on a Big Data journey, enterprise content management (ECM) is a fundamental requirement. OpenText defines its ECM offering as “capabilities that assist customers with content management strategies for improving lifecycle management, optimising transactional content processes and improving engagement through more effective use of business content”. In other words, at the most basic level, the company is able to help banks formalise the way they store data and information derived from business processes. However, ECM is only the first of five pillars around which the company have developed their EIM offerings. The second is Business Process management (BPM) or “software capabilities for analysing, automating, monitoring and optimising structured business processes”, such as account management processes. Pillars one and two are about managing data content in a traditional sense and Tay acknowledged that these products were still finding uptake in emerging markets such as Sri Lanka, Myanmar and to a certain extent Vietnam, as well as with banks in other geographies that are at a less developed stage of technological maturity. Pillars three to five are OpenText’s response to the deluge of data and information that banks can now access. The data, some of which comes in u... Please login to read the complete article. If you already have an account, you can login now or subscribe/register.
Categories: Data & Analytics, Data ManagementData & Analytics,Data Management, Data & Analytics,Data Management, Keywords:Albert Tay, OpenText, EIM, ECM, BPM, Big Data, CEM, BI, SaaS, Data Storage Albert Tay, OpenText, EIM, ECM, BPM, Big Data, CEM, BI, SaaS, Data Storage
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