Misys, a financial software company, has launched an in-memory analytics engine branded FusionBanking Insight, integrated with its core banking solution, FusionBanking Essence.
The solution will enable banks to gain insight into the profitability of customers, branches and products and analyse data to deliver services catering to the needs of customers.
The in-memory analytics engine will consist of a set of dashboards containing the most commonly needed data points and will speed up query response times, by residing data in computers’ RAM and not on physical disks or in OLAP cubes.
Misys FusionBanking Essence product director Cormac Flanagan said: "Banks have a vast amount of data locked away unused in their core banking systems.
"By implementing FusionBanking Insight banks can understand customers better and identify where they can increase profitability for each of their products. It also provides valuable insight into the financial aspirations and behaviours of their customers."