HSH Nordbank to save £300,000 with business intelligence software

HSH Nordbank expects to save £300,000 in staff costs at its UK operation by deploying business intelligence software. The software will be used to produce management reports for compliance audits.

The German bank, which has 4,400 employees worldwide and 131 in the UK, would have had to hire staff at a cost of £500,000 over five years to extract and analyse data to compile the reports, compared to the one-off cost of buying software.

The packaged application from Granville incorporates tools to extract and analyse data from several different sources and store the results in a separate database.

"The packaged approach saved us the effort of having to integrate different components," said David Forster, head of operations at HSH Nordbank.

The success of the UK roll out will be used as a basis for deploying a similar application in its Asian business later this year.

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