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GOCARDLESS BANKS ON LOOKER TO DELIVER COMPANYWIDE DATA-DRIVEN EFFICIENCIES

Looker, a leading data platform company, today announced that recurring payments platform, GoCardless, has deployed Looker to drive significant productivity gains across its business, universally adopting data analytics to improve efficiency across multiple departments including finance, product and compliance.

 

Since deploying Looker, GoCardless has significantly modernised its approach to data, replacing its previous processes that were outdated and time consuming. Prior to deploying Looker, GoCardless employees had limited access to data, with its analysts tasked with responding to requests for a significant number of reports – taking up valuable time and typically requiring them to deliver various dashboards following ad hoc requests.

 

Today, 95% of employees at GoCardless have a Looker account, with three quarters (75%) of them  using it in a meaningful way on a monthly basis. Requests made to the data team have now been reduced to nearly zero, where previously at least a dozen analytics tickets were created weekly.

 

Automating processes

GoCardless’ financial planning and analysis (FP&A) team has saved four days per month by using Looker to automate the process of data analysis at the executive and board level – significantly freeing up both this team, and the data analysts, who were supporting this process on a regular basis. Additional features, such as scheduling, enable updated reports to be regularly shared with team members – including, specific reports shared on a weekly basis with the CEO and relevant teams – without the requirement for people to manually update and send each week.

 

GoCardless also uses Looker to track the impact of product feature releases, including gaining a better understanding of the sales funnel, detailing where revenue drivers exist and how its products are being used by customers.

 

Enabling regulatory compliance 

Looker’s data platform has improved regulatory compliance for GoCardless through features such as managing file permission sets that include version control, access to certain documents and the viewing and edit history of such files. Looker also enables GoCardless to maintain its customers’ data privacy, through the organisation and anonymisation of personal information, and management of this data at scale.

 

“We wanted to foster a culture in which everyone has access to data to inform decision-making, as well as ramping up efficiencies. Since working with Looker, we’ve been able to open up access to data across the business and we’ve seen near universal adoption of the platform,” said Jon Palmer, head of business intelligence at GoCardless.

 

“The Looker team has been integral to on-boarding and training our employees to enable a self-help culture across the company. This has also freed up the analysts to focus on more strategic efforts as we continue to execute our ambitious growth plans,” he added.

 

John O’Keeffe, VP of EMEA, Looker, added: “We’re delighted to work with a like-minded business such as GoCardless that shares similar values and ambitions to harness analytics to drive increased productivity across the business. GoCardless is about to enter a critical growth period in its lifespan and we’re pleased to be able to support the team by enabling insight-led decision-making as a framework for expansion.”

 

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MOBEY FORUM: BANKS’ BIG OPPORTUNITY IN DIGITAL ID WON’T LAST FOREVER

Mobey Forum

New report offers strategic insights for banks following in-depth review of seven prominent digital ID schemes across Europe and North America

 

Despite banks playing a fundamental enabling role in the development of national digital ID schemes to date, their uniquely strong position in the field is under increasing threat from web giants and other globally networked firms. This is the view expressed by Mobey Forum’s Digital ID Expert Group in a new research report launched today.

 

The report, entitled How to Make Digital Identity a Success: Insights and Learnings from Seven Digital ID Schemes, is the product of an in-depth, collaborative study conducted in 2019 with seven digital ID schemes across Europe and North America. The report presents a comparative overview of the different models being applied around the world and provides insights, and comments for banks and financial institutions on their evolution, together with a range of other factors such as their varying models and management, technical underpinnings and services they provide to users.

 

“As our collective reliance on technology continues to grow so too does our need to establish robust, secure and user-friendly ways of verifying our individual identities, digitally,” comments Jukka Yliuntinen, co-chair of the Digital ID Expert Group, Mobey Forum. Banks have mastered the ability to operate at scale in highly regulated environments, under conditions that require rigorous and stringent security and identity verification procedures. This has enabled them to play a key role in the evolution of national digital ID schemes and also makes them prime candidates to be future guardians of digital identities, supporting services that stretch far beyond banking and generating new revenues as a result. This advantageous position could change quickly, however, as other powerful networked stakeholders move into the space. Banks must be aware that the window of opportunity to adopt these critical roles may be closing, perhaps faster than they think.”

 

Launched in a new interactive, all-digital format, the How to Make Digital Identity a Success report gives banks and other stakeholders a chance to refer to a detailed comparison of Alastria, e-Estonia, Itsme, NemID, BankID, Verimi and Verified.Me.

 

“Like in so many other industries, Google, Amazon, Facebook, Apple, Alibaba/Alipay and other hugely powerful digital players have serious potential to upend the global market for digital ID,” adds Elina Mattila, Executive Director, Mobey Forum. “That said, the success of a digital ID scheme is rooted in trust and collaboration – between users, governments and regulators, telcos, banks and other key service providers. While they can move quickly and at scale, the ‘GAFAs’ are unlikely to be afforded bank-beating collaborative relationships with all of these stakeholders any time soon.”

 

“This collaborative model is here to stay,” adds Mattila. “It’s only through close collaboration that banks can both address the challenges and seize the opportunities presented by digital identity.”

 

The report also charts the opportunities and challenges posed by cross-border integration of digital ID schemes and examines the role that regulation can play to assist. It contends that, as digital ID schemes continue to mature, the issue of cross-border interoperability will gather momentum and, while regulation can provide the framework for interoperability, much work remains before the schemes can be harmonised to enable a seamless flow of digital identity usage over the borders.

 

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HALO TRUST USES ADAPTIVE INSIGHTS FOR STRATEGIC BUSINESS PLANNING

BUSINESS PLANNING

Cloud-based financial planning helps HALO Trust deliver greater benefit to communities affected by war

 

Adaptive Insights, a Workday company, today announced The HALO Trust, the world’s largest humanitarian landmine clearance organisation, employing more than 8,700 employees across 25 countries, uses Adaptive Insights Business Planning Cloud to support the charity’s continued growth with a modern business planning process. The HALO Trust joins more than 750 non-profit customers that trust Adaptive Insights for business planning, benefiting a variety of communities and causes worldwide.

 

The organisation relied on the development of financial plans utilising complex spreadsheets, which were difficult to integrate into the global planning process and inefficient when producing multiple scenarios for effective option appraisal.

 

“Being able to holistically manage real-time changes is critical to our success. With a single, powerful system in the cloud, we’ve eliminated the headache of working with siloed spreadsheets and have significantly reduced the time taken to produce high-quality financial models,” says Mick Darby, finance director at The HALO Trust.

 

For more than 30 years, The HALO Trust has kept people safe and helped communities to rebuild by clearing landmines, destroying weapons, managing stockpiles, and educating communities how to stay safe until the dangerous debris of war can be removed for good. By moving HALO’s planning and analysis process entirely to the cloud, the finance team provides the guidance necessary to support the rapid growth of the organisation, which has doubled in just the last three years. Providing globally distributed team members with an easier, faster, and standardised approach ensures that the charity’s budgets and forecasts reflect current local conditions and currencies, all rolled up into a single platform.

 

“We’re proud to provide organisations like HALO with more time to focus on the important humanitarian work they do by simplifying and modernising their business planning process,” said Robert Douglas, Europe planning director at Adaptive Insights. “By streamlining budgeting and forecasting, we’re helping to make every pound and every volunteer hour count, which in turn helps HALO maximise the impact on its mission to save and protect lives.”  

 

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