The London branch of Deutsche Postbank is using an IBM analytics system to make its commercial real estate investment decisions safer and more efficient.
Postbank’s core business in London is corporate lending for commercial real estate (CRE). The branch management demands accurate and timely management reports to help them make investment decisions.
Prior to implementing the analytics system, CRE reporting for the bank was time consuming and involved multiple staff to manually collect data from disparate sources.
With the new software, the bank has a single view of business information and can make decisions based on up to date information.
Head of IT at Deutsche Postbank, Clarel Sookun, said: “The system has really proved its worth by reducing the time it takes to produce our reports for CRE from hours to minutes."
Using the system, Deutsche Postbank can "centrally store actual and reconciled data", as well as ensure it has "the ability to produce further management reporting at a higher quality level”, he said.
There are now plans to extend the software to the bank’s finance operations, analysing loan and interest data, and performing "what-if" scenarios using graphical data.
Sookun said, “The bank is now able to analyse data in different formats and produce subsets of reports as and when required, which used to be a very labour intensive task. Implementing the system also unexpectedly highlighted inaccuracies in our existing data and we are now confident in consistent, high quality reporting."