PROJECT BROKERS ON FSA REPORT
21 Dec, 2011
Better decision-making could prevent future banking crises, says Project Brokers
This week’s long-awaited FSA report on the turmoil at RBS, blamed ‘poor management decisions’, ‘flawed regulation’ and ‘insufficient supervision’ as the root causes of the bank’s troubles. Business intelligence consultancy Project Brokers argues that enhanced visibility of critical issues across financial services companies may have prevented poor management decisions from being approved and could prevent similar future crises.
RBS is being viewed as the most high-profile post-credit crunch example to date of ‘poor management decisions’ – yet Project Brokers contends that ‘gut feel’ decisions are being made every day at major financial institutions worldwide. Project Brokers argues that the financial sector would benefit from having the right kind of tools at its disposal to help directors make better informed choices about the running of their businesses and the risks to which they are exposed.
As a globally recognised business intelligence consultancy, Project Brokers helps financial institutions to make business-critical decisions by giving firms access to their data in the most easy-to-use and accessible formats possible. Access to quality data has never been more critical for the banking sector, which is now dealing with the consequences of increased regulation and reporting requirements.
Daren Cox, CEO of Project Brokers said: ‘The FSA report sends a clear warning to financial organisations to make sure critical business decisions are fully supported and well-informed. We are deploying QlikView technology across the financial sector to help our clients make better business decisions. Our solutions work around the needs of the organisation – including mobile business intelligence from a PC, Smartphone or tablet device – in order to remove ‘gut feel’ from the decision-making process and enable directors to make choices based on real, dependable data.”
Picture: London’s Financial District