Lately, we have written a lot about how MANTA can help you comply with all kinds of regulations, but risk and compliance go hand-in-hand for our customers.
They often use a risk management tool called Oracle Financial Services Analytical Application (OFSAA) and ask us if MANTA works together with it. The answer is, YES! Read on to find out how to use MANTA together with OFSAA to really get the hang of risk management.
Let’s start with a story from the field. We use a credit card company in this example, but this story really does apply to a wide range of financial products. Our story starts with a customer who applied for a credit card, but the application was denied by the company.
Then he returned half a year later and applied again. The second time, he got it. But how was this possible? The credit card company then had to manually go through all the data and current calculations, and it took them months to find out what had caused the problem – during the 6 months between the two requests the financial company had changed the algorithms for calculating creditworthiness. So, being able to give the customer an explanation required a lot of work, stress, and time! Wouldn’t all of this have been much easier if the company had had MANTA?
DO IT THE EASY WAY…
How could the company have solved the problem using MANTA and OFSAA? MANTA provides information about stored procedures and data handling quickly and accurately. It not only provides data lineage but is able to compare current revisions with historical ones. Instead of manually going through all the past algorithm records, they could have had MANTA solve the problem for them automatically. The company could have easily looked at the algorithm used on the date the customer first applied in just a few clicks. And OFSAA helps MANTA effectively get all the information it needs.
OFSAA MAKES IT EVEN BETTER!
OFSAA works as a system above your Oracle database, using its logic to generate SQL codes. MANTA and SQL code are good friends, so it’s easy for MANTA to take the information about your financial services from OFSAA and add it to the data lineage. The outcome is detailed end-to-end data lineage that MANTA provides by parsing your Oracle database and adding mapping and OFSAA scripts. And the best part of it is that OFSAA and MANTA “speak” the same language, so the entire process is FAST, saving you time and money you can use – well, really on anything better than manually searching through scripts and stored procedures.
Don’t do “risky business”. Go ahead and fill in this form to get a free trial to have a look at MANTA yourself.