Financial Services Leader Banks on Success with Cognos
— Cognos delivers enterprise reporting and analysis, drives corporate performance management initiatives —
BURLINGTON, MA, August 21, 2002—Cognos (Nasdaq: COGN; TSX: CSN), the world leader in business intelligence, has implemented a business intelligence (BI) solution at KeyCorp, one of the nation's largest bank-based financial services companies. The BI solution will assist KeyCorp to manage corporate performance, strengthen customer relationships and provide employees with data that will enable them to make strategic decisions to guide their business.
KeyCorp's Residential Real Estate division, which includes home equity lines, loans and consumer products, uses Cognos to integrate data from disparate systems across the enterprise to measure and manage delinquencies and charge-off levels by state, underwriter and/or product. KeyCorp's Auto Finance division purchases auto loans from car dealers across the U.S and uses Cognos to analyze and report on the performance of those dealers based upon pre-determined key performance indicators.
Auto Finance and Consumer Real Estate are the pioneer groups at KeyCorp that have implemented the Cognos BI solution. "Employees are able to look at the interrelationships between data and obtain a complete overview of how the business is performing over the life span of the loan," said Shravan Kotha, senior vice president, Decision Science, KeyCorp. "The Cognos solution enables us to rapidly react to market changes — we can maximize selling opportunities and address problems before they become major issues resulting in improved customer service and increased revenue."
"Cognos offers the industry's most comprehensive business intelligence solution, designed to scale to the specific and complex requirements of leading-edge companies like KeyCorp," said Dave Laverty, senior vice president, global marketing, Cognos. "Cognos enables the entire management cycle — from budgeting and planning to reporting and analysis to visualization and scorecarding — and provides our customers with the technology they need to better manage corporate performance and guide the business."
Founded in 1969, Cognos employs more than 2,600 people and serves more than 20,000 customers in over 135 countries. Our customers are involved in every industry sector including automotive, banking and insurance, energy and natural resources, government, healthcare, manufacturing, and pharmaceuticals. Cognos BI solutions, applications, and services are sold directly and are also available from more than 3,000 worldwide partners and resellers. These solutions are supported by an experienced field force of more than 1300 customer-facing personnel.