How Fidelity Bank improved profitability reporting with our data cleansing & management solution

In the highly competitive banking sector, accurate and timely financial reporting is critical for maintaining profitability and making informed business decisions. Fidelity Bank Plc recognized the need to enhance their profitability reporting processes by addressing challenges related to data quality and workflow inefficiencies. The bank sought a comprehensive solution that would streamline data flow, cleanse existing data, and deliver accurate management performance reports at various levels of analysis.

To achieve these goals, Fidelity Bank partnered with FEES Ltd, leveraging their expertise in Data Cleansing & Management. The objective was to improve the accuracy and usability of profitability reports through a rigorous process of data cleansing, workflow analysis, and the development of a robust reporting framework.

Understanding the challenge

Fidelity Bank was facing several challenges that hindered the effectiveness of their profitability reporting. These included inconsistencies in data flow from branches and regional offices to headquarters, unclear workflow processes, and the need for a more structured approach to data extraction and cleansing. Additionally, the bank required a solution that could produce accurate management performance reports at multiple levels, from consolidated views to branch-specific insights.

Our Approach

FEES Ltd approached the project with a comprehensive strategy designed to address Fidelity Bank’s specific needs.

Phase 1: Documentation and analysis

The project began with a detailed documentation and analysis of Fidelity Bank’s existing workflow, user reporting needs, and data flow across various levels of the organization. FEES Ltd worked closely with the bank’s stakeholders to identify gaps and inefficiencies in the current processes.

Phase 2: Data cleansing and management design

FEES Ltd then defined and designed data extraction, cleansing, and migration routines to ensure that the data being used for reporting was accurate and reliable. This phase also involved the design of data mart table structures and relationships, laying the foundation for a more organized and efficient data management system.

Phase 3: Prototype report development

To ensure that the new system met the bank’s reporting needs, FEES Ltd built prototype management performance reports at various levels of analysis, including consolidated, regional, branch, business unit, account officer, and customer levels. These prototypes were designed to provide actionable insights and support better decision-making across the organization.

Phase 4: Training & documentation

FEES Ltd provided comprehensive training for both end users and system administrators to ensure that Fidelity Bank’s personnel could effectively utilize the new system. Additionally, the project included a detailed report and documentation of all design work, ensuring that the bank had a clear understanding of the implemented solution and could maintain it effectively.

Outcomes & benefits

The implementation of our data cleansing & management profitability reporting solution provided Fidelity Bank with several key benefits:

Enhanced data quality

The data cleansing routines ensured that all financial data used in reporting was accurate and reliable.

Streamlined workflow

The documentation and analysis of existing workflows led to more efficient processes and improved data flow from branches to headquarters.

Comprehensive reporting

The new reporting framework provided Fidelity Bank with detailed management performance reports at multiple levels, supporting better decision-making across the organization.

Improved user competency

The training provided by FEES Ltd ensured that the bank’s personnel were well-equipped to use and maintain the new system.

“Our goal was to help Fidelity Bank achieve a higher level of accuracy and efficiency in their profitability reporting. By focusing on data quality and workflow optimization, we were able to provide a solution that supports better decision-making at every level of the organization.”
Popoola AdamsDirector, FEES Limited

Through the expert implementation of a tailored Data Cleansing & Management Profitability Reporting Solution, FEES Ltd enabled Fidelity Bank to overcome critical challenges in their financial reporting processes.

The project not only improved data quality and workflow efficiency but also provided the bank with the tools needed to produce accurate and actionable management performance reports.

Enhance your profitability reporting

Are you facing challenges with data quality and reporting efficiency? FEES Ltd can help you streamline your processes and improve the accuracy of your reports. We’re offering a free BI assessment to help you discover how we can transform your data management and profitability reporting.