AquaQ Analytics helps Danske Bank drive data efficiencies
THE north's biggest bank has turned to a specialist data management and analytics firm to help it improve its service.
AquaQ Analytics has collaborated with Danske Bank that has enabled the bank to save time and increase efficiency by automating some complicated manual tasks.
AquaQ provided assistance to the bank's Belfast-based risk team to improve the processing of a large quantity of daily data which was processed manually and had been identified as suitable for automation.
It worked with the Danske data intelligence team to migrate a number of manually intensive complicated tasks previously completed using Excel spreadsheets into a scheduled workflow using advanced data analytics platform Alteryx.
Using the platform, Aqua Q has introduced substantial efficiencies for Danske Bank, enabling tasks that previously took half a day to be done in a matter of minutes.
It is estimated the automation of this one task will save Danske Bank on average eight days per month and allow key personnel to focus on other high value projects.
Another important outcome was an increase in job satisfaction as the original task completed by staff in that team was highly repetitive.
AquaQ continues to work with Danske Bank on further data projects and introducing further efficiencies within the bank.
The company's chief executive Ronan Pairceir said: "We're delighted to be assisting Danske in their data related projects and the improvements achieved to date have been very encouraging.
"AquaQ is dedicated to fostering innovation in the data processing and data analytics sector and this collaboration if further evidence of the success we are able to achieve.”
Marion Rybnikar, head of data at Danske Bank, said: “The ability to innovate is essential as the banking landscape evolves and is key to Danske Bank's digital strategy.
"Our partnership with AquaQ has enabled our data intelligence team to fast track automation of manually intensive tasks, allowing our team to be innovative and focus on creating value for our customers.
"Automating these complicated, repetitive tasks lets our team concentrate on complex tasks that require greater analysis and interpretation.”