Retail Banking

Core retail banking processes usually have little to do with user-developed applications; The volume of information is too high, even with the opportunity to use a million rows in the latest version of Excel.

Nevertheless, stepping back from the large-scale business processes such as accounts, payments and ‘know your customer’ these same institutions are involved in other product offerings which have much higher complexity and lower volume. These include retail mortgages and commercial debt securitization. The more complex these product structures and the more rapidly they evolve to meet changing market and client demands the more likely it is that spreadsheets will manage some of the business process – such as valuation, demand aggregation or client reporting.

In financial control spreadsheets and MS Access databases also support a variety of processes where integration into core systems is uneconomic, for example because they are too specific (e.g. impairment calculations) or too regionalized (e.g. local tax and regulation). 

ClusterSeven brings transparency, control and efficiency to all of these business processes, delivering regulatory compliance and reducing operational risk. Now when staff move on, a repeatable, standardized process can be handed over.

“Adopting ClusterSeven gives us central visibility of activity in our business critical spreadsheets and helps protect against operational loss.”

Pete Coleman, Head of IT Development at Nationwide (Leading UK Retail Banking Institution and ClusterSeven client)