Spain's Central Bank Opts For MicroStrategy
06/28/2004
MicroStrategy (NASDAQ: MSTR), the provider of business intelligence software, says the Banco de España has deployed the MicroStrategy Business Intelligence Platform as the reporting and analysis standard for its Risk Information Group. The Banco de España is Spain’s central bank, with full responsibility for regulation and supervision of the country’s financial system, and is a member of the European System of Central Banks along with the central banks of the other nations participating in the European Monetary Union and the European Central Bank.
MicroStrategy provided these details:
“After evaluating other business intelligence solutions, the Banco de España selected MicroStrategy to meet our complex business requirements,” said Carlos Sainz, Head of the New Technologies Division at the Banco de España. “The MicroStrategy platform’s ease-of-use, unparalleled scalability, robust analytics and superior flexibility enable our employees to run sophisticated yet intuitive reports against large volumes of data.”
The Banco de España chose to deploy a data warehouse that enables employees to analyze credit risk data and run statistical reports with ease. In production since June 2002, the MicroStrategy-based system has successfully reached its first-phase objectives. The second phase ended in September 2003 and the application will continue to expand its reach across the organization in subsequent phases.
“The outstanding reporting features and excellent scalability inherent in the MicroStrategy platform provide the Banco de España with the ease-of-use for rapid deployment to a diverse user-base,” said MicroStrategy’s COO Sanju K. Bansal. “A number of the world’s leading financial services companies and organizations have choosen MicroStrategy for such critical applications as regulatory management, business performance management, credit risk management, and financial reporting and analysis. The top five global commercial and savings banks are now MicroStrategy customers.”