SAS Institute and CIMB Singapore receives award for Analytics – Banking
The SAS Viya platform helped accelerate CIMB Singapore's digital transformation journey.
Banking institutions with customer-centric values need a unified platform that allows them to understand and respond to their customers on time. Singapore Business Review (SBR) knows the significant role that these systems can do in effectively improving banking services, which is why its judges have awarded SAS Institute and CIMB Bank Berhad, Singapore branch (“CIMB”) the Analytics - Banking award for implementing the SAS Viya platform to support CIMB Singapore's strategy to unify its customer data.
The SAS Viya platform provides an easy-to-use visual interface supporting a complete analytical AI and machine learning lifecycle from data preparation to operationalisation of insights. The interface encourages more 'point and click' useability, as opposed to coding and is well-embedded with advanced AI and machine learning techniques and algorithms for users to explore, visualise and deploy findings.
The platform allows users to build and automate business dashboards using visual analytics that consolidate various data sources for a full 360-degree customer view, enable complex automation of analytical modelling steps through event-based triggers across business processes, and create a seamless sharing of insights derived from analytics between teams, enabling business users to access data and analytical models.
As a financial institution that recognises the need to democratise the use of data and analytics for faster and better-informed decision-making, CIMB utilised the SAS Viya platform to generate new revenue streams through a deeper understanding of buyer behaviour and the use of mobile channels. The advanced analytics capabilities enabled CIMB to deploy cross-selling and upselling campaigns at customer touchpoints when they are most receptive via digital messaging as real-time engagement. The new system helped improve the data analytics efficiency for the bank's Consumer lines of businesses, enabling them to make use of data to generate revenue.
"The project allowed us to push boundaries and with the advanced analytics capabilities, we are able to derive critical insights into our customers’ need state and engage them at key moments to help in their decision making”, shared Ms. Merlyn Tsai, Head of Consumer Banking, Digital and Customer Experience Management at CIMB Singapore. "The solution is also native to Cloud hence it is future-proofed. More specifically, the project broke down data silos from multiple business units and unlocked unlimited marketing potential from event-based triggers that are based on customer data insights."
“Through our cloud-native SAS Viya platform, we are able to enable quick deployment at significantly lower cost of ownership, accelerating time to value through scaling of analytics and AI at speed, resulting in faster outcomes and trusted results. We are glad to support CIMB in their digital transformation journey to drive informed decision-making across their lines of business, enabling actionable insights through data analytics and ultimately impacting business outcomes,” said Remco den Heijer, Vice President of ASEAN at SAS.
SAS is the leader in analytics. Through innovative software and services, SAS empowers and inspires customers around the world to transform data into intelligence. SAS gives you THE POWER TO KNOW®.
The Technology Excellence Awards, presented by Singapore Business Review, was held via studio award presentations and video conferencing sessions throughout the second and third week of April.
This year’s nominations were judged by a panel consisting of Daryl Pereira, Head of Cyber at KPMG; Cheang Wai Keat, Partner, Consulting at Ernst & Young Advisory Pte. Ltd.; Henry Tan, Group Chief Executive Officer and Chief Innovation Officer at Nexia TS; Sivakumar Saravan, Senior Partner at Crowe Singapore; Cecil Su, Director, Head of Cybersecurity of BDO Singapore.
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