The Director, Financial Services, Teradata, Vince Leat, told Business Line that India has emerged as an exciting market for datawarehousing. At present, banks and financial services players have complex business systems where information resides in multiple services and across multiple locations. For banks to provide better services, they want a single view of all the information. Leat said Teradata was in parleys with the Institute for Development Research and Banking Technology (IDRBT) to explore ways to partner with it and other banks, in the quest to create technologies that help better manage the information.
With Basel II norms for better risk management set to become mandatory, banks would need to adopt better practices, he said.
Globally, the business intelligence market is estimated to touch about $17 billion by 2007, and grow at the rate of about 30 per cent per annum. For instance, within banks, know your customer (KYC) and other mandatory compliance issues such as Sarbanes Oxley, Basel II norms, and other risk management issues, necessitate that they create the frameworks to address datawarehousing.
Apart from these sectors, the Government is yet another growth opportunity.. This relates to taxes, customs and healthcare areas, where at the click of a mouse, information can be extracted to offer certain services, he said.
