Seacoast Implements Denodo’s Data Virtualization Software as a Logical Data Warehouse in Less than Half the Time of a Traditional Data Warehouse.
San Francisco, CA, September 7, 2016 - Denodo, the leader in data virtualization software, today announced that Seacoast Banking Corporation of Florida (NASDAQ: SBCF) has implemented the Denodo Platform to improve the accuracy and timely decision making made by its banking operations groups, such as deposit and loan operations. By delivering a logical data warehouse in less than half the time that would have been required for a traditional data warehouse solution, Denodo is allowing Seacoast to meet the operational and analytical needs of multiple business units within the organization.
“We wanted a single vendor for information delivery so that our business users can interact more with the data on a self-service basis,” said Mark Blanchette, VP and Director Business Technology and Data Management at Seacoast. “Denodo’s data virtualization technology has helped us to reduce the time required to source data for reporting from two to three days for static reports to only two or three hours for interactive, self-service reports.”
Seacoast implemented Denodo as a logical data warehouse to enable the bank to easily integrate operational data across cloud-based and on-premises information systems and deliver the aggregated data as logical data marts to analytical and reporting tools such as SAS and Tableau. Leveraging the Denodo Platform, Seacoast is now able to provide enterprise-wide self-service BI and develop interactive reports and trends using modern reporting tools. More importantly, Seacoast is now accessing, unifying and modeling new data quickly to serve multiple business units enabling them to handle credit administration, risk mitigation, internal operations, and Bank Secrecy Act in near real-time. More importantly, the bank regards the ability to quickly pull data as a significant value-added improvement.
“We are very pleased to be working with Seacoast Bank and to help them establish an enterprise data warehouse only using Denodo Platform for data virtualization, and obviating the need for a physical data warehouse,” commented Ravi Shankar, CMO at Denodo. “Our ongoing data virtualization innovations, including rich metadata and advanced capabilities in self-service search and data discovery, are benefiting customers like Seacoast, which has seen dramatic improvements in its reporting operations and, as a result, efficient business processes, automation, and streamlined information management.”
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About Seacoast Banking Corporation of Florida (NASDAQ: SBCF)
Seacoast Banking Corporation of Florida is one of the largest community banks headquartered in Florida with approximately $4.4 billion in assets and approximately $3.5 billion in deposits as of June 30, 2016. The Company provides integrated financial services including commercial and retail banking, wealth management, and mortgage services to customers through advanced banking solutions, 52 traditional branches of its locally-branded wholly-owned subsidiary bank, Seacoast Bank, and five commercial banking centers. Offices stretch from Ft. Lauderdale, Boca Raton and West Palm Beach north through the Daytona Beach area, into Orlando and Central Florida, and west to Okeechobee and surrounding counties. More information about the Company is available at www.seacoastbanking.com.