Nacional Financiera Automates Manual Processes and Improves Decision-making
Previously, the development bank Nacional Financiera (Nafinsa) spent too much time gathering and analyzing data and producing reports. "We performed several types of daily and weekly calculations, which meant we were spending lots of time analyzing data with an unacceptable response time," says the director of productive chains. "We set out to standardize and automate our analytics and decision-making processes."
The bank formed a selection committee to compare market- leading BI tools to applicable procurement laws. It focused on software vendors that were well positioned in the Gartner Magic Quadrant for analytics tools. According to the selection team, TIBCO outperformed its competitors with both its affordable licensing terms and its robust technical capabilities.
Using TIBCO WebFOCUS software, Nafinsa set out to automate decision-making processes in three important areas: guarantees, credit, and productivity chain. In just four months, it developed an important analytics application called “Statistical Information System for Promotion EBIFomento” that analyzes data from these segments.
Each segment includes key performance indicators related to credit guarantees, account balances, financing terms, and other essential functions. The BI application makes it easy for managers to track important affiliations, statistics, balances, and many other banking details. Popular reports include summary detail balances, operations summary, and operations detail. The team is currently incorporating new features for data visualization, graphics, and trend analysis.
The main sources of credit information come from Mexican financial institutions that offer Nafinsa products to their customers, and use the Nafinsa portal to examine electronic credit operations and supply chains.
"For the three aspects of Nafinsa's credit, we develop numerous sector projects for specific markets," explains the director. "TIBCO has become a key platform for data management and measurement. As the system evolves, we combine data from multiple areas and enter it into a repository that allows us to analyze products and programs."
Nafinsa's EBIFomento system is optimized for desktop and laptop computers, as well as mobile and wireless devices. The analysis environment provides real-time automated distribution of information, integration with Microsoft Office, and web access for authorized users.
"Over six years, Nafinsa experienced new project growth of between 10 and 15 percent," says the director. "With a single platform, TIBCO allowed us to measure and incorporate information into the financial system.”
The TIBCO platform helps analysts understand how balances are affecting banks and institutions and analyze the behavior patterns of their clients. Since the implementation of BI and analytics, Nafinsa has established a single source of information for the entire organization, which is particularly useful when generating reports for the National Banking and Securities Commission. Project stakeholders have automated select manual processes, minimized the risk of information loss, and helped many people in the organization make decisions based on accurate and timely data.
Nafinsa's broad economic strategy has helped Mexico's development banking system to be more effective and specialized. The role of participating institutions such as Nafinsa is to support modernization of key economic sectors and promote them to world markets.
Looking ahead, Nafinsa's management is confident that its analytical efforts will continue to evolve. "We have embarked on a process of continuous improvement that will soon include advanced capabilities for data discovery. We plan to integrate analytics into other products and services in areas such as investment and risk."