MCi’s Performance Management in Banking Framework
MCI has developed the BankAlytic framework utilising the IBM Cognos TM1 platform and has a successful track record of implementing it for a number of banks and financial institutions around the African continent, including South Africa’s largest commercial bank, as well as in the United Kingdom.
The BankAlytic framework is a best practice framework for key performance management in banking and is configurable to meet changing requirements. Our solution is implemented by experienced specialist consultants.
BankAlytic reporting is delivered through web or Excel and provides multiple views and versions, financial reporting, central bank reporting, management reporting (including automated cost allocations and automated ratio and KPI calculations), consolidations, slice and dice analysis with zero latency, and drill-down and drill-through to underlying data.
The planning module facilitates collaborative budgeting and forecasting with the capability to perform complex automated calculations and allocations such as driver-based budgeting models, internal cost allocations, funds transfer pricing, economic capital calculation, and allocation and risk weighted asset modeling.
The performance module allows analyses of performance across multiple dimensions including customer, channel and product. Performance can be assessed against plans, benchmarks and peer average. What-if analyses can be performed to test sensitivity to changing inputs.
The BankAlytic Performance Scorecards are based on the Kaplan and Norton Balanced Scorecard Model and provide strategic indicators linked through the entire organisation to operational drivers and performance dashboards at multiple levels in the organisational hierarchy.
MCi’s Value Proposition
With access to MCI’s experienced IBM Cognos TM1 consultants who have specialist knowledge of the banking industry, coupled with our BankAlytic framework, we are able to provide customised Performance Management Solutions within a short space of time.
The Benefits of Implementing MCI’s BankAlytic Framework
- Provide information with transparency and integrity
- Better alignment from operations to strategy
- Strengthened accountability and ownership
- Efficient communication of goals
- Time saved on planning cycles and reporting processes
- Improved alignment among departments
- Close the Performance Management loop!