Whistlebrook to supply United Trust Bank with data warehousing
United Trust Bank has chosen Whistlebrook as its new supplier of data warehousing, financial reporting, budgeting and stress testing, and regulatory reporting solutions.
The bank will be using Whistlebrook’s ALFI Data Warehouse, which has a number of modules to help solve common challenges faced by financial organisations.
Shane Bannerton, head of finance at UTB, commented: “The ALFI Data Warehouse will allow us to manage our internal and regulatory reporting requirements in an efficient and flexible manner. It is important that UTB remains up to date in core technology as we grow our business and continue to offer the highest levels of customer service and meet our regulatory requirements.”
Andy Hudders, director at Whistlebrook, said: “We are delighted that UTB have chosen Whistlebrook for their data warehousing and regulatory reporting requirements. We were impressed with their business and their desire to build a first class IT platform to support their plans.
“ALFI will be able to automatically extract data from operational systems to give a single, integrated view of what’s going on in the business, providing granular ad-hoc analysis for internal use as well as regulatory submissions via WIRES”.
The ALFI Data Warehouse allows financial institutions to gather their financial data - lending, savings, current accounts, treasury, general ledger, etc - in one place and use this for a variety of business solutions.
The modules within ALFI include:
- Financial reporting (business intelligence)
- Financial planning (planning, budgeting and forecasting) with stress testing
- Liquidity modelling
- Regulatory reporting
ALFI Financial Reporting
Having all the businesses financial data in one place means that all parts of the organisation can report using the same dataset ensuring that there is a “single version of the truth”. Inconsistent departmental reporting can be a huge problem for senior management and having a single organisational reporting solution solves this problem.
ALFI Financial Planning
ALFI Financial Planning allows financial organisations to plan, budget and forecast for the entire business for up to five years. Starting from the data imported for the current period the users can make assumptions about future events to see how their business will look in the future.
WIRES Regulatory Reporting
WIRESPLUS is the most feature variant rich of the recently launched regulatory reporting solution from Whistlebrook. The product was originally launched in response to the COREP requirements but the scope has now widened to include existing FSA and Bank of England reporting as well. WIRES (Whistlebrook Integrated Regulatory Reporting) is fully scalable to meet the requirements of large and small financial institutions.