At one point, SNS Bank labored under a stovepipe situation, with each department collecting data into a source system used only by that specific division. This massive data segregation was costing time and money and prevented the bank from closely monitoring and reacting to important changes in a volatile market.
Based on past CRM success in Marketing, an SNS steering committee decided to implement a single-source data solution: an Enterprise Data Warehouse. The new system enabled all departments to store information in one repository—"store once, use many"—in an application-neutral fashion to serve the needs of all departments.
SNS Bank's investment in Teradata has created the ability to analyze data on a daily basis, produce reports more quickly, adjust strategies on the fly, and take advantage of opportunities as they arise. With all departments on the same page, the bank can now mount profitable new initiatives, including cross-departmental fertilization of data to enhance existing products or create new ones and individualize offers at ATMs.
