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Read MoreEnhancing Data-Driven Decision Making with Microsoft Fabric for Victoria Commercial Bank
Customer Name:
Victoria Commercial Bank
Industry: Finance
Solution: Microsoft Fabric
Location/Country: Nairobi, Kenya.
Partner: Reliance Infosystems
Overview
Victoria Commercial Bank (VCB) is a private bank established initially as Victoria Finance Company, a non-bank financial institution (NBFI). In 1996, following the issuance of a banking license by the Central Bank of Kenya, the company rebranded to Victoria Commercial Bank. VCB focuses on serving large corporations and high-net-worth clients and offers personal banking services to the employees of its corporate clients.
Victoria Commercial Bank (VCB) sits on the throne of corporate governance in Kenya. Its position in private banking sets the pace for other banks to redefine their banking processes through digital technology. The bank is bound by its resolute dedication to delivering exceptional service and building lasting relationships and is also driven by its vision to establish new benchmarks in the financial industry, consistently elevating the value they provide to their clients and the communities served. Despite well-thought-out plans and execution, VCB experienced challenges in managing banking processes efficiently and they required the professional guidance of digital transformation experts.
Where it Hurt
Data is the oil which turns the wheels of banking. As the bank grew and took on more users, VCB began to struggle with data ingestion and management. There were challenges with streamlining data ingestion from various sources and this impacted the data quality and consistency. The existing data infrastructure was unable to support the growing data volumes. The inadequate scalability affected optimal performance of daily activities.
In addition to these shortcomings, VCB struggled with inefficient data analysis processes that hindered the ability to generate timely and actionable insights, affecting their data analysis and reporting. A final obstacle was the lack of visibility into customer behaviour. The team was unable to secure customer retention as the lack of insight into churn patterns hindered proactive measures for customer loyalty.
In addition to these shortcomings, VCB struggled with inefficient data analysis processes that hindered the ability to generate timely and actionable insights, affecting their data analysis and reporting. A final obstacle was the lack of visibility into customer behaviour. The team was unable to secure customer retention as the lack of insight into churn patterns hindered proactive measures for customer loyalty.
The Paradigm Shift
Victoria Commercial Bank knew these challenges had to be mitigated and they entrusted their digital transformation journey to Reliance Infosystems. Our team of experienced hands, versatile portfolio, international recognition and presence were more than sufficient to convince the financial giant that their digital future was assured with Reliance Infosystems as their trusted partner. This turned out to be a great decision as their processes were optimized to easily scale in today’s business landscape.
Embracing Transformation
The Reliance team took VCB on a seamless digital transformation journey to resolve their disparate data sources, inefficient data management and limited capabilities for advanced data analytics. We deployed and implemented Microsoft Fabric, a robust data warehousing solution, to provide scalability thus improving the overall performance and granting limitless insight into customer behaviour.
Microsoft Fabric, which is a comprehensive cloud-based data platform, helped to simplify the bank’s data management and analytics. It supported every stage of the company’s data lifecycle, reduced data complexities, and was useful across multiple departments. Fabric makes it easy to facilitate decision-making decisions through the power of advanced analytics and machine learning. All these are further achieved through the seamless collaboration it offers the relevant team, integrating with Power BI, end-to-end services, and the support for open data formats.
The successful deployment of Microsoft Fabric ushered in a unified data platform. VCB was able to streamline data ingestion, ensure scalability and enhance data quality. This enabled data scientists to access and analyze customer data efficiently, identify churn patterns, and develop predictive models. The integration with Power BI facilitated real-time insights, improving decision-making and customer retention strategies.
The Sunrise
Victoria Commercial Bank, through Microsoft Fabric, now experience improved daily activities all around. From improved data quality to higher data accuracy and consistency, deeper visibility into customer behaviour and churn patterns to implement proactive measures to retain customers, interactive reporting and analytics, and more, the bank can better satisfy customers, supporting its goal to deliver exceptional service and build lasting relationships while championing the path to digital banking.
Key Metrics
35% increase in data processing time
42% enhanced data analysis capability
65% improved productivity
40% increased scalability
45% strengthened security and compliance
The Sunrise
“We are writing to express our gratitude and appreciation for your excellent work in conducting the Microsoft Fabric proof of concept (POC) for our organization. We were impressed by your professionalism, expertise, and responsiveness throughout the POC period. You demonstrated the capabilities and benefits of Microsoft Fabric in various scenarios and use cases and answered all our questions and concerns with clarity and confidence.
Thank you for the valuable feedback and suggestions on how to optimize our IT infrastructure and operations with Microsoft Fabric. As a result of the successful POC, we are now convinced that Microsoft Fabric is the right solution for our organization. We are looking forward to moving to the next phase of the project, which is the implementation and deployment of Microsoft Fabric across our enterprise. We look forward to other alignment sessions so we can continue our fruitful collaboration with you and your team in this endeavor.
Thank you once again for your outstanding service and support and we will get back our team availability for the next sessions”. – Mukunda Patel CISO – Upper Hill branch – VCB
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