Teradata has won its first partner bid with Microgen to re-engineer the accounting process of the Co-operative Banking Group (CBG).
CBG is installing a centralised Teradata datawarehouse platform as part of its core Financial Transformation Programme. The new system integrates credit risk and accounting data into one integrated datawarehouse environment. Predicted benefits include increased usability of data, reduced management overheads and improved time efficiency.
The first release of its programme (the replacement of core banking systems) has been delivered for corporate customers. CBG purchased Teradata to act as a solid foundation for credit risk and accounting based business intelligence. The model is expandable to the entire enterprise. Within the programme, the Microgen Accounting Hub (MAH) and Microgen Aptitude is used to feed the GL and the Teradata datawarehouse with finance information.
“MAH supports customer account level journal information as well as summary GL data. It is this level of detail that enables CBG to align risk and finance data back to the GL and Group Financial Statements using the transparent and open MAH architecture on Teradata,” comments Elizabeth Sipiere, divisional MD EMEA and Asia PAC at Microgen.
“We are delighted to have signed a contract with Teradata and Microgen. Together, they offered us a cost effective, scalable solution that offers new insight for our accounting and credit risk business community,” explains Ian Wade, change manager at CBG.
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