Suleman Dossani, MD & CEO Sukirat Singh Kochar, ED & CROBeing a passionate banker with over 30 years of banking experience, Suleman Dossani realized that banks are spending millions of dollars on Business Intelligence (BI) tools in-order to find ways to generate the high amount financial returns. But in spite of investing heavily in these tools, banks are still not getting the returns due to challenges that span poor data quality and data warehouse design. “Also, there is a lack of 360-degree view for top management and timely and accurate reporting,” says Dossani, MD and CEO of Sunoida Solutions. The grave challenges ultimately motivated him to design a state-of-the-art Banking BI product, “Vision”, leading to the inception of Sunoida Solutions.
Headquartered in Dubai, the company helps to solve the complexities of Enterprise Data Management problems like extraction, cleansing, and enrichment. It aids to manage the quality of data in a banking data warehouse that consolidates data from multiple applications and databases running in the bank to provide timely, accurate and complete reporting.
Vision-Banking BI, Vision-Enterprise Risk Management, and Vision- Instant Profit Enhancer (IPE) are some of the solutions offered by the firm to its clients. The Vision Enterprise Risk Management (ERM) solution covers Market Risk, Credit Risk, Operational Risk, BASEL Compliance, VaR Calculator, Balance Sheet Stress Testing, ALM, Customer Scoring and Profiling. Sunoida’s Vision-Instant Profit Enhancer (IPE) is a scalable and highly adaptive solution which enables banks to identify and address all points of income leakage across the customer engagement cycle in a systematic and automated manner.
The Vision-Banking BI, the most innovative solution in the pack is a web-based solution that delivers rules-based enterprise wide analytics. It provides reporting and analytical capabilities by account, product, branch, business line, relationship, sector, currency, business segments, and a number of other dimensions and attributes.
The Vision-Banking BI, the most innovative solution in the pack is a web-based solution that delivers rules-based enterprise wide analytics
The plug-n-play modular solution integrates with all standard core banking applications and product processors such as treasury, trade, lending, CRM etc. to form a comprehensive data warehouse.
For a detailed understanding of Vision consider the example of a reputed bank in Kenya. The client was given a mandate by their Board to implement FTP and Cost Allocation functionalities within 45 days, so that they could do their profitability analysis in detail. The bank selected Vision and implemented the functionalities within 40 days.
“Our every project is headed by a senior Banker (25+ years experience) with strong domain knowledge who is able to share best practices across banks. Hence, we build first-rate solutions ‘by bankers for bankers’ whereas most of the companies present Generic BI tools, but not end to end banking solutions,” says Sukirat Singh Kochar, Executive Director of Sunoida Solutions. “The foremost inimitability of our com¬pany is we put our solutions into actions within three months, while most of the other banking solution companies take nine months to one year,” he adds. The company designs solutions using the latest technologies (Oracle and J2EE) that handle all the business complexities and nuances of the banking industry in an automated manner.
Sunoida Solutions has a vision to be a top player in the BI and Risk Management space for banks across the emerging markets. “We have good presence in Middle East and Africa, and we will be expanding our operations in APAC and CIS in next few years,” notes Dossani.