Diasoft, the leading provider of modern software solutions for the global financial industry, announced expansion of functional capabilities of its Diasoft Sensor solution. The product, which is designed to monitor performance of the Diasoft FA# and FLEXTERA systems, is now available as a mobile application.
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FLEXTERA BI is a specialized platform for creating, modifying and running business intelligence applications used for the multidimensional business analysis. The solution is specially designed to fulfill all the functions associated with business intelligence tasks of a financial institution and provides comprehensive instruments for financial performance analysis, management reporting and regulatory reporting.
FLEXTERA BI incorporates:
- a corporate warehouse,
- a set of system services which realize core BI functionality (such as KPI calculation engine, quality control environment, data management and visualization , etc.)
- a comprehensive development framework for BI applications, and
- a suite of ready-to-use BI applications which includes special solutions for Performance Analysis, AML, and MIS, IFRS and Regulatory reporting.
FLEXTERA BI applications provide historical, current and predictive analysis of business operations and ensure timely and convenient access to the reliable and thoroughly selected information for the accurate decision making. It supports national and international reporting standards and allows for flexible configuring of in-house reports and custom ad hoc queries without engaging IT specialists.
As a specialized solution for performing complex analytical tasks, FLEXTERA BI ensures a streamlined and flexible approach to report generation and provides the following values to its Customers:
- FLEXTERA BI automates business processes instead of separate operations. The analytical task is treated as a standard business process, which allows for its streamlining and enhancement;
- FLEXTERA BI is an open platform which uses in-built enterprise-class instruments and technologies from the market leaders — SAP, Oracle, IBM;
- FLEXTERA BI eliminates the gap between the BI methodology and its realization in an automated system.
The solution is built on JavaEE technology in full compliance with SOA principles and uses enterprise-class components from the global technological leaders — SAP, Oracle, and IBM, together with unique analytical instruments developed by Diasoft. This combination ensures fast and easy processing of analytical queries, the ability to integrate with third party databases and business applications, convenient data visualization and limitless opportunities for custom reporting.
Leveraging the most advanced technologies and the best financial practices, FLEXTERA BI ensures that all types of business reports — such as MIS reports, performance reports, statuary financial reports, AML functionality, etc. — are quickly and securely delivered through all modern channels and are represented in the most convenient visual form (with the use of dashboards, ad hocs, social software, portal solutions, etc.).
THE ADVANTAGES OF FLEXTERA BI
FLEXTERA BI has a number of unique features and advantages which distinguish the system from its few peers. They create a modern and future proof solution, provide the Customer with better flexibility, and ensure improved efficiency of all the functions associated with business intelligence.
Process Driven Architecture — All the business intelligence tasks are treated as business processes. All the processes are streamlined to avoid bottlenecks and ensure the work is not repeated. The process manager can monitor the tasks being performed at the current moment, their execution time, and actions of the responsible employees. The solution also allows for logging all the user activities.
Business Model Driven Analysis — All analyzed data are described through the common business oriented terms of a single business model. The same common terms of this business model are used to describe and perform all analytical tasks, starting from complex multistage KPI calculation algorithms to quality control rules and the data management user interface. It allows business users both to better understand how the system works and to create their own analytical algorithms using the common business terms without the help of the IT personnel.
Ability to Work with Any Existing Corporate DWH — FLEXTERA BI applications are based on a business model and are capable of working with any existing DWH solutions without the need of extracting, transforming and loading the data. FLEXTERA BI tools support simple mapping of the application business model against the existing DWH logical model and work with its data as if it were the native FLEXTERA BI DWH model.
Data Quality — The solution provides tools for the detection of data quality problems and their automatic or manual correction. Using these tools, the solution ensures reliable reporting and also detects the errors which could occur earlier.
Regulatory Compliance and Constant Updating of Standard Reporting Forms — The system ensures compliance with requirements of relevant regulatory bodies (Federal statutes, regulations, instructions) on both national and international levels, with continuous updating of standard reporting forms.
Report Configuration in accordance with Customer Requirements — The system allows for quick configuration of reports in accordance with the end user requirements. The user can generate consolidated reports, sort reports by priority, make urgent adjustments, and select data basing on the given parameters.
Unique Analytical Algorithms — Special analysis tools designed by Diasoft provide for the fast creation of new calculation algorithms supporting a so-called slicing and dicing analysis. This enables the user to create as many custom reports as necessary without the need to make complicated configurations or hard code new functions. The customer is virtually unlimited in the data analysis opportunities with sophisticated predictive modeling capabilities, complex data mining tools, multidimensional data drilling and tools for generating ad hoc reports.
Smart Data Delivery
Microsoft Office Integration — FLEXTERA BI allows for loading data in any format and exports reports into MS Excel, MS Word, KLIKO and other applications. In addition, the solution can be run on any workstation independently from the installed operating system.
Ad Hoc Queries — The system allows for creating various custom reports with the use of diverse parameters and extensive drill down opportunities without the need to engage IT specialists.
Use of Enterprise-class Business Intelligence Platforms for Data Visualizing — Within the process of report generation, FLEXTERA BI prepares data, ensures their quality, calculates financial results, and loads data into OLAP cubes. The system is compatible with various Business Intelligence platforms (SAP Business Objects, IBM Cognos, Oracle BI, etc.) to perform report visualization, multidimensional analysis of the calculated results, Ad Hoc reports, and other tasks based on the received data.
Thin User Interface — A thin client technology is used to perform more than 80% of BI tasks, with no additional applications required on user work stations.
Multi-channel and Multi-language Support — FLEXTERA is a multi channel and multi language system providing effective support for the bank staff all around the globe and ensuring the most convenient access to services for both the bank’s employees and customers.
Single Screen Technology and Dashboards — the use of the Single-Screen technology provides a user with a convenient instrument for consolidated access to the whole set of BI, reporting and industrial applications which can be used by a financial institution. The analytical data can be represented with the help of customized dashboards (a set of widgets) for the unified (one-screen) access to all relevant information and its fast and convenient analysis.
Collaboration — The system provides broad opportunities for data sharing and collaboration and can be deployed with the use of industrial portal solutions.
FLEXTERA BI is designed for the end-to-end automation of business processes associated with business analysis, management reporting and regulatory reporting. FLEXTERA BI incorporates a corporate warehouse, a comprehensive development framework for BI applications and a set of ready-to-use BI applications, providing a powerful and comprehensive instrument for end-to-end automation of every task related to business analysis. The solution architecture can be subdivided into the following major parts:
- A suite of ready-to-use analytical applications;
- FLEXTERA BI DWH that incorporates the comprehensive System of Records and the Summary Area Data Model for financial institutions;
- FLEXTERA BI Analytical Center that includes a set of infrastructure BI services and a comprehensive integrated development environment (IDE) for BI applications.
Modern FLEXTERA Business Intelligence tools allow financial institutions to fulfill their mandatory filing to regulatory authorities and generate sophisticated management reports to analyze the performance of their products, branches and staff. Every function within the solution is performed by a separate component which allows the Customer to use such components as universal building blocks of their financial architecture, easily deploy or replace new modules and avoid undesirable interdependencies of separate functions and slowing down of the system’s operation.
FLEXTERA BI supports the following suite of off-the-shelf analytical applications:
- FLEXTERA BI MIS Reporting — the solution provides for the financial analysis of bank operations and financial forecasting based on the financial accounting data;
- FLEXTERA BI Sales Performance Analysis — the solution performs the multidimensional analysis of the efficiency of sales and support processes of various bank products;
- FLEXTERA BI Analytical AML — the solution analyzes the data derived from source systems to detect and further process any unusual, suspicious or doubtful transactions and the transactions subject to mandatory controlling;
- FLEXTERA BI IFRS Reporting — the solution is designed for generating reports in accordance with international financial reporting standards with the use of data derived from any internal sources;
- FLEXTERA BI Regulatory Reporting — the solution provides tools for generating statutory reports in strict compliance with regulatory bodies requirements.
The visualization of the reports is realized with the use of SAP BusinessObjects tools. Custom applications can be developed on the basis of the same FLEXTERA Platform.