Barclays Bank Selects Teradata

Monday 26 July 2004 17:58 CET | News

Teradata, a division of NCR has siged a long-term agreement enabling Barclays Bank to further consolidate its many databases onto a single Teradata Warehouse platform.

Barclays Bank will leverage Teradata technology to significantly reduce licensing and support costs associated with maintaining multiple database platforms, enhance information availability and accuracy and improve the effectiveness of its business intelligence and customer relationship management (CRM) applications. The first phases of the project concentrated on consolidation of existing data warehouse systems from other suppliers, as well as migrating all data from the legacy systems. Moving to an enterprise data warehouse approach should ensure Barclays has the much sought-after single version of the truth across its various business units. Barclays decision to consolidate its disparate data marts onto one platform is a common theme among many financial institutions and other businesses across Europe. Research conducted by Teradata over the past 24 months has shown that the cost of supporting and maintaining each separate data mart averages between $1 million to $1.5 million per year. The research also highlights that there are significant cost savings from consolidating data marts into an enterprise data warehouse.

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Categories: Payments & Commerce | Payments General
Countries: World
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Payments & Commerce


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