Banco de Crédito e Inversiones Selects Teradata Vantage in the Cloud for Flexible and Scalable Analytics
One of Chile’s largest retail & commercial banks migrates to Vantage on Microsoft Azure to achieve its digital transformation goals
Teradata (NYSE: TDC) today announced that Banco de Crédito e Inversiones (Bci) has moved its on-premises data analytics platform to Teradata Vantage on Microsoft Azure. Bci chose Teradata’s cloud offering to modernize and expand its analytic ecosystem so the company can improve operational efficiency and better support and respond to its growing customer base.
Bci offers a wide range of banking products and services. Established in 1937, its main objective was to attend to the productive sector of the country, focusing on small business and family work. Today, Bci is one of the most important banks in the country with numerous subsidiaries that complement and support its business. It has more than 300 offices in Chile, international representation, thousands of customers from different markets, and around 10,500 employees that help maintain the Bank as one of the principal players in the Chilean banking system.
As the world of financial services continues to evolve, understanding and responding to customers’ needs is Bci’s biggest priority. To do this, the company needs increased agility and operational efficiency so it can quickly add, scale, and change new and existing analytic applications – such as behavioral analytics and campaign management capabilities – to enable richer customer insights and better customer experiences.
Bci is expanding its workload support to respond to the needs of its customers more effectively and efficiently. By leveraging the flexibility of Vantage in the cloud, Bci can keep costs low, even while the data volume increases. And by providing increased access to data across the organization, Bci is arming its decision makers with data-driven insights that will help them innovate faster and reduce time-to-market for new financial products and services.
“Bci wanted to cost-effectively modernize its data platform for an agile, flexible and scalable analytics environment,” said Juan do Carmo, Country Manager of Teradata Chile. “Our expanded strategic partnership with Microsoft enabled us to efficiently migrate Bci’s on-premises workloads to Vantage on Azure, ensuring continuity of operations and the fastest path to the cloud.”
Teradata recently announced an expansion of its strategic global partnership with Microsoft to further integrate the Vantage data platform with Microsoft Azure.
Teradata Vantage integrates Azure Synapse, Azure Data Lake, Power BI and Azure Machine Learning which helps companies like Bci to modernize their data analytics workloads with security, reliability and elasticity.
"From reimagining customer experiences to enhancing risk management and streamlining regulatory compliance, the future of financial services is built on the data-driven capabilities that Teradata Vantage on Azure can provide," said Bill Borden, Corporate Vice President of Worldwide Financial Services at Microsoft. "Leading financial institutions like Bci are modernizing their data analytics in the cloud, and Teradata and Microsoft offer the integrated solutions to accelerate every step of that journey."
Teradata Vantage is the connected multi-cloud data platform for enterprise analytics. It enables ecosystem simplification by unifying analytics, data lakes and data warehouses. With Vantage, enterprise-scale companies can eliminate silos and cost-effectively query all their data, all the time, regardless of where the data resides – in the cloud, on multiple clouds, on-premises, or any combination thereof – to get a complete view of their business.