i-flex solutions, on Monday announced a significant win marking the entrance of Reveleus into South Korea. The Woori Financial Group elected Reveleus to establish an enterprise-wide management information system across its various subsidiaries including Kyongam Bank. Access to more accurate enterprise performance results will enable the group to better manage business risks and tighten compliance with regulatory guidelines.
Using Reveleus, disparate data will be consolidated from the group's various subsidiaries into a common MIS system. By way of a web-based interface, business users can interact directly with Reveleus' rich library of banking metrics to get the information they desire. The MIS system will be shielded with structured security, allowing users to view only information that is pertinent to their line of responsibility. In addition, Reveleus Business Analytics and metadata will be available in Korean, making it possible for the users to interact with the system using local language business terms.
Reveleus will also provide the Woori Financial Group with a delivery platform for business reports and Key Performance Indicators. For instance, senior management will have access to Profitability Analysis reports and Executive Portals equipped with alerts. A similar MIS system will be built for Kyongnam Bank which will in turn feed into the Woori Financial Group's MIS system for group reporting.
The Reveleus solution will be deployed at Woori Finance Information Systems. WFIS takes care of all the IT requirements of the Woori Financial Group.
"This implementation, the first in South Korea, demonstrates Reveleus' capability to implement Business Analytics for large financial institutions," said, S Ramakrishnan, CEO, Reveleus. "We are extremely pleased to have Woori Financial Group and Kyongnam Bank as our customers."
"We have chosen Reveleus as it will provide an enterprise wide business analytics solution which is extremely critical in our multiple-subsidiary environment. In today's competitive financial environment, decisions have to be taken faster than before so as to leverage market opportunities. Through Reveleus, we will have direct access to critical data enabling faster decision-making resulting in a competitive advantage," said S.K.Kwon, MD of Woori Finance Information Systems.