[Securities & Futures] Data management empowers operation, self-developed system reduced costs by ¥1.5 Million

Post time 2020-5-12 10:13:20 | Show all posts |Read mode Print Prev. thread Next thread
Company: Soochow Securities Co., Ltd.
Industry: Security
Region: Jiangsu Province
Product: FineReport FineBI
Scenario: Dashboard Self-service Analytics
Status: Industry Leader
Year: 2019

After years of rapid development, Soochow Securities Co., Ltd. has accumulaed a large number of data. But due to a variety of reasons, the value in the data has been unable to be effectively used. After using the FanRuan's products, Soochow Securities Co., Ltd. independently developed the reporting platform system, unified the fetch rules, which ensures the data accuracy, and greatly improves the work efficiency. Based on this, Soochow Securities Co., Ltd. controls the daily operation of the company through the dashboards. And realize self-service analytics through FineBI. It let the business staff independently explore the data value and improve business efficiency.

1. Company Profile

Soochow Securities Co., Ltd. is a China-based company principally engaged in security-related businesses. The company mainly operates through five segments. Brokerage and Wealth Management segment provides brokerage services for securities, funds and bonds, research services, and investment consulting services. Investment Banking segment offers underwriting and recommendation, acquisition and reorganization, and financial innovation services. Investment and Dealing segment is engaged in the investment trading of securities, derivatives, and other financial products. Asset and Fund Management segment is engaged in the development of asset management products and fund products according to customers' requirements, as well as the provision of related management services. Credit Trading segment is mainly engaged in security margin financing business and repurchasing business.

2. Project Background

After more than 20 years of development, Soochow Securities Co., Ltd. has grown from a local securities company to a comprehensive national security company with more than 130 business outlets. The business categories are complete. Meanwhile, Soochow Securities has built more than 100 sets of systems to support the development of various businesses.

After years of rapid development, the company has accumulated a large number of types of data and realized that there is a great deal of value in these large amounts of data. However, the company also found that the data value cannot be discovered due to the following reasons.

1) Lack of centralized data management and a unified data management system

Investment Bank Headquarters: Customer information management was not complete and did not form a unified system.
Otc Market Headquarters: The amount of listed work was large and lack of data quality control.
Information Technology Headquarters: The data demand management of the data center platform lacked unified management, and relevant materials such as upstream and downstream system lists, data dictionary, operation manual were missing.

2)Data were scattered, data integration and sharing capabilities were insufficient.

Brokerage Management Headquarters: They hoped to cover the customer data of branches, and change the passive customer management mode.
Network Finance Department: The data integration and sharing capabilities were insufficient. For example, the app could not read the data of the credit account and asset management product.
Otc Market Headquarters: Lack of cross-departmental sharing of the customer, due diligence, and other information.

3) The report automation degree was low, and the workload of the manual report is heavy.

Fixed Income Headquarters: The workload of the manual report was heavy, around 20-30 reports.
Bond Investment Headquarters: The level of reporting automation was too low to support data and performance analysis.
Operation and Clearing Department: The report was mainly to meet the regulatory requirements, and there was a lack of automated reports to support the front desk business.

4) Lack of data analysis capability

Investment Headquater: Lack of data analysis to support investment decisions.
Network Finance Department: There are information silos, and have not built retail customer profiling capabilities.
Risk Management Department: Hope to prepose risk management and improve data analysis ability.

For the above reasons, we launched data governance in early 2017. We began to use FineReport for data display in September 2017 and launched FineBI for self-service analytics of business departments in June 2018.

3. Application Scenarios

3.1 Self-developed Reporting Platform

With the rapid development and digital transformation of the company, the demand for data analysis, multidimensional reports, efficient report development, and real-time data display of the company is rapidly increasing, so are the data use departments and personnel. We have been exploring how to respond to various data requirements raised by business departments and provide efficient, convenient, and accurate data services quickly.

Each business unit or business line needs a large amount of data report on time to master operation every day. At the same time, they need to make a lot of regulatory statements to give regulators. For example, at the beginning of a month, each sales department need to spend several days to extract the data from different systems and then fill out the forms. It is laborious and error-prone. And if the data submitted is wrong, it may be deducted points. It will harm the company's classification supervision rating, resulting in a massive loss of reputation and even the economy.

As we launched our self-developed reporting platform system, also under the full exploitation of the advantages of the big data platform, we used FineReport to make large numbers of reports. These reports can be generated and exported in a few clicks, which is time-saving and labor-saving. It makes the work that used to take several days to complete can be completed in seconds. Meanwhile, the fetch rule is also unified, which reduces the risk of error in data entry.

There are no requirements for coding when using FineReport. As long as you understand the business logic and basic database knowledge, you can design reports or forms that meet the actual business needs.

The data processing methods such as data expansion, multi-source sharding, row and column symmetry reduce the complexity of report making greatly. In the past, before making reports, it took hours or even days to prepare the data, and then several hours to complete the reports. However, with our self-developed reporting platform, we only need to create a template once and then carry out iterative development, which can reduce hours or even days of work.

Therefore, the reporting platform developed by FineReport greatly improves work efficiency, reduces a lot of repetitive work, no longer relies only on manual report making, and dramatically improves the timeliness of business data.

The self-developed reporting platform has saved 1.5 million yuan of system outsourcing costs for the company. It also reduced the risk of regulatory reporting errors and reduced the possibility of significant losses due to failed reporting.


At present, many reporting modules of the self-developed systems in the company are developed directly by FineReport, which significantly improves the efficiency of system development, reduces the difficulty of report development, and enhances the experience of report function.

3.2 Dashboards

As all kinds of business data are in different systems and change in real-time during the day, to company's managers and relevant business departments, they want to be informed of business situations of the day timely.

However, due to the system and business characteristics, the general reports are available the next morning after the liquidation in the evening.

Through the dashboards, the data will be extracted from each system in real-time. After processing, the data of different systems and businesses will be displayed timely in the dashboard. Moreover, the leaders can master the daily operation of the company in real-time through the mobile application.

At present, the dashboards can realize real-time visualization of the company's account opening operation, trading volume, transaction amount, commission, customer assets, abnormal operation monitoring, and other functions. For the real-time operation data, it mainly includes the account opening data of brokers, account opening data of securities margin trading, the transaction of brokers, the transaction of securities margin trading, channel monitoring, and other information.
It provides strong support for the business department and the leaders to make decisions.

For the prediction of operational anomalies, the dashboard can do real-time abnormal monitoring of human, software, and uncontrollable factors that may occur in the intraday, reduce the risk in the intraday and provide timely manual intervention for the daily operation of the company.


3.3 BI Self-service Analytics

We began to use FineBI in June 2018, expecting to make greater progress in data analysis.

We introduced BI tools mainly in the hope of migrating data analysis and part of reporting work to business departments so that report developers in the business department can independently conduct data analysis, discover data value, find problems and solutions. At the same time, it can reduce the working intensity and pressure of technical staff, so that technicians can gradually shift their energy to essential data services.

FineBI has been used in many departments and has achieved a lot of results. The amount of ad-hoc data that was previously submitted to back-end technicians has been dramatically reduced.

In the future, our technical department will make efforts in the aspect of data standardization and provide high-quality data. At the same time, business staff will become the protagonist of data analysis, to improve the efficiency of data demand processing and the ability of data analysis, and better and faster help front-line business.

4. Project Experience

1) Data standardization is the foundation of the vertical connection of information. It also supports the implementation of management standards and the company-wide application of informatization achievements.

2) Define users' requirements for data quality (including business rules and data application), and guarantee the requirements through business operation system and technical means.

3) Data management is a long-term and complex process, which unifies the management of the existing business-supported data and realizes the unified storage, use, and maintenance of core data through the standard sharing mode.

4) Data visualization is the presentation and communication of information, and it also provides positive data support and decision assurance for managers.

5) The learning cost of FineReport and FineBI is low. They can effectively reduce the difficulty and improve the efficiency of reports development.

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