Raymond James Financial Drives Smarter Operational Decisions with Oracle
Oracle Data Integrator 12c and Oracle GoldenGate 12c help centralize multiple data sources and enable better decision-making for 6,000 financial advisors
REDWOOD SHORES, Calif. – October 27, 2014
With an increasing amount of data being produced every day, organizations need to effectively manage the information influx to support smarter, faster decision-making. Raymond James Financial (Raymond James), a Florida-based diversified financial services company, implemented Oracle Fusion Middleware 12c technologies to help meet this goal. With Oracle Data Integrator 12c and Oracle GoldenGate 12c, Raymond James established an enterprise information platform that integrates data from multiple sources and provides a consolidated company view, giving constituents quicker access to actionable, timely data that can boost operational efficiency and build a seamless customer experience.
To power its strategic Operational Data Store Project, which supports next-generation financial advisor applications, Raymond James needed a flexible platform that would easily integrate with current systems and help manage continued information growth across disparate data sources.
Using Oracle Data Integrator 12c and Oracle GoldenGate 12c, Raymond James has been able to integrate client and product data from seven sources, including HP NonStop systems, Microsoft SQL Server databases, and IBM Netezza data warehouse, to create a consolidated view of company operational data within financial advisor–facing applications. Oracle’s solution reduced data latency from five minutes to a median of nine seconds.
This new centralized system provides enterprise-wide visibility into operational data, such as client portfolio information, while also helping to ensure data quality and governance.
In addition, the Oracle solutions support repeatable processes in data migration and loading, which improves productivity and operational efficiency and accelerates time to market for new financial services.
With Oracle, Raymond James has reduced the time needed to integrate a new data source into its data warehouse by 50 percent and reduced the time needed to generate client performance reports from minutes to seconds. This helps 6,000 financial advisors improve customer satisfaction through quicker response times, and accelerates speed to market for new solutions and enhancements.
Additionally, with Oracle Data Integrator 12c and Oracle GoldenGate 12c, Raymond James can provide 24/7 support for business-critical processes such as calculating rates of return, which the company reduced from several hours to just 30 minutes.
Oracle Data Integrator 12c and Oracle GoldenGate 12c are part of Oracle Fusion Middleware 12c
, the leading business innovation platform for the enterprise and the cloud.
“We faced the difficult task of managing a growing number of data sources, and as a result needed an enterprise-grade solution that would help us overcome this challenge and enable better and timely decision-making,” said Chaitanya Palem, manager, Architecture and Core Services, Raymond James Financial. “Oracle Data Integrator 12c and Oracle GoldenGate 12c have enabled us to manage our massive pools of data, as well as accelerate time to market for future projects, improve performance and system availability, and reduce IT costs. But just as critically, the Oracle solutions have helped us improve customer satisfaction by delivering better, faster service.”
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