Landsbankinn is a household name in Iceland, where the organization is known as the top bank in the country and one that serves over 125,000 individuals and over 14,000 corporations. Recently, Landsbankinn wanted to accelerate key operational processes. For example, if Landsbankinn wanted to send tote bags to new customers of a certain product, the bank had to engage in unsustainable amounts of manual labor. To streamline its data infrastructure, Landsbankinn implemented the Denodo Platform.
Trusted Tools, Transformed and Modernized
Every established financial institution has its traditions, and Landsbankinn is no exception. No matter which modern BI tools are introduced and deployed, key Landsbankinn stakeholders keep crunching data in Excel. With the Denodo Platform, Landsbankinn was able to transform Excel spreadsheets into self-refreshing spreadsheets, wherein the data from key cells was pulled in real time from a logical data warehouse, enabled by data virtualization. Landsbankinn stakeholders could also access data from the logical data warehouse using other tools besides Excel, for an overall improvement in flexibility and agility. With the new, Denodo-enabled architecture in place, all users had ready access to trusted data, there were no competing versions of “the truth,” and security and governance could easily be managed over the entire infrastructure via a single point of control. The Denodo Platform also provides Landsbankinn with ready access to external data, web-scraped data, and data from other sources. Supported by the Denodo Platform, Landsbankinn can now move more freely, and at the speed of business.