Financial Institutions
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“We were spending a lot of management time poring over all kinds of reports to help us decide how much of our loanable funds to allocate to specific loan types and specific branches. Even then, we knew we were just guessing what was happening in the field. Then we started using Variance Explorer TM. It showed us in seconds what were the fastest-growing, lowest-defaulting, and highest-margin combinations of loan types and branches. We were able to grow our business 10% faster, and improve repayment rates by 5% within 3 months.
– Steve M.
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Your Challenge
If you are managing a credit union, bank or a financial institution that lends money, you are probably concerned with performance indicators such as:
- Count and value of loans issued, outstanding, and fully collected
- Count and percentage of past-due loans, including repayment rates and past-due ratios
- Number of customers (both borrowers and depositors) and size of their account portfolios
- Interest rates and profitability of each type of financial product you offer
You want to monitor such performance at various levels of detail, such as:
- By branch or location
- By employee (loan officers, tellers, etc.)
- By product (CDs, various loan types, etc.)
You want to keep a very close eye on those indicators, so you want to review the values and trends daily, weekly, monthly. You know that collections, deposits and disbursements have cyclical patterns, so you want to trend data based on day of week, or date within the month (e.g., the 15th and 30th tend to be much busier than other days of the month, so you want to trend the volume and value of transactions on the 15th of each month, rather than a simple trend across dates.
Variance Explorer TM - Your Solution
Variance Explorer TM offers an “out-of-the-box” solution for credit unions, banks, and other financial institutions. The solution has already pre-defined a large number of charts and drill-down trees that you use to generate spreadsheet reports on all those indicators. All you need to do is have one of our certified resellers install the software and integrate it with your existing databases and other data sources.
Our certified resellers will also assist you in developing new or changed charts and reports to satisfy your unique requirements.
