CIBC Turns Insight into Real-Time Action
More in tune with customers and faster than competitors
As a leading financial institution, CIBC is committed to accelerating profitable revenue growth and maintaining its position as a leader in client relationships. As Neal Oswald, CIBC senior vice president explains, “The three biggest trends in financial services are understanding your customers, managing your data, and creating more efficient processes. All three are interrelated and strategically important.”
To retain its leadership position, CIBC realized that it had to become faster and more agile. Equally high on its list of priorities was increasing the efficiency of managing client data and improving end-to-end processes. Traditional business intelligence software had proved too rigid, costly, and time consuming, leading to lost opportunities.
To achieve its goals, CIBC selected:
• TIBCO Spotfire®: an enterprise analytics platform providing interactive visualizations and data discovery capabilities that help business users and analysts get fast answers to their most important business questions and immediately take action to gain a competitive edge.
• TIBCO Nimbus®: A process management platform that lets users capture and model business processes in a format and language that is easily understood by all employees, and therefore, helps the right employees do the right thing at the right time.
“We chose TIBCO Spotfire,” says Oswald, “to improve our speed to market, increase our agility, and facilitate quick access to dashboards and scorecards.”
Fast Visibility, Understanding, Insight
By deploying innovative TIBCO solutions like Spotfire and Nimbus, CIBC has attained comprehensive visibility and deep understanding with speed and flexibility.
Analysts can build their own reports with interactive dashboards and visualizations, then easily share them with decision makers, who in turn can explore the data to drill down and develop insights. With predictive and event-driven analytics built in, Spotfire and Nimbus have become a powerful self-service toolkit and have helped CIBC understand its data and take action.
“We’ve gained additional insight and it’s easy to use. Spotfire delivers value to us due to the fact that we’ve gained insights we wouldn’t otherwise have,” says Oswald.
Easy Integration and Data Connections
Oswald says that deployments of its three Spotfire instances have all been very easy. “What differentiates Spotfire from other competitors is its speed, the fact that you can easily connect databases, the manner in which it connects data together, and the fact that it can integrate with both Nimbus and the UBPM stack,” he says.
Accelerated Collaboration and Results
With Spotfire, it became easy to disseminate and understand analytics. For Oswald, this meant providing “. . . data and insight that you couldn’t otherwise get with minimal implementation effort. With Spotfire, we’re now able to better measure and understand our end-to-end processes.”
TIBCO Spotfire has also allowed CIBC to seize new business opportunities and improve our ETE processes. “It has allowed us to iterate our design, iterate our reports, and get results faster,” Oswald says.
Based on its success with Spotfire, Oswald has set his sights squarely on the future and digital process measurement. “My long term vision in the context of the end-to-end process management is to digitally measure processes in capital markets, wealth, retail, and credit cards and use the TIBCO reporting stack to report on process performance and analyze process characteristics.”