CHELMSFORD, Mass., Nov. 11, 2015 (GLOBE NEWSWIRE) -- Fauquier Bank is using self-service data preparation software from Datawatch Corporation (NASDAQ:DWCH) to access data from across different business lines to make faster, better decisions about security, marketing, audits and other areas that impact customers and the bank’s bottom line.
The Virginia-based community bank had struggled to access necessary data for reporting and analysis because it was spread across multiple sources from a variety of vendors and in many different file formats that were difficult to pull into analytic applications.
Things came to a head when the bank decided to upgrade its core bank processor. With disparate data sources scattered between the old and new core processors, as well as in a cold storage system, employees had to resort to printing and reviewing hard-copy reports from different systems line by line to continue normal business operations.
The Fauquier Bank turned to Datawatch Monarch software to access and prepare reliable data quickly, no matter what system or in what format. It has enabled all bank departments to analyze critical data more efficiently in order to immediately make more profitable business decisions.
“Datawatch has increased the credibility and efficient use of information throughout the organization,” said Janet Grimsley, vice president of decision support at The Fauquier Bank. “Before this, it was inconceivable to bring data from different areas into one data set that could be used for security, marketing, audits and other business line decisions that would directly impact the bottom line.”
The bank now uses Datawatch to write models based on specific report criteria that extracts data in different formats from a variety of disparate sources including data warehouses, archives and third-party data. This gives business users prepared, easy-to-comprehend information for making swift, insightful decisions. The software also automates the output of daily reports without involvement from IT. With the bank data, models and exports all managed by automated processes can now be shared with users across the organization.
For example, finance, accounting, retail support and other departments can now apply analysis to decision making for things like creating data files for third-party staffing models, ensuring that bank tellers are properly staffed throughout the day. Support and audit departments are also using Datawatch to quickly validate banking processes and settlements without the use of paper or the need to have IT on site to create reports.
“The Fauquier Bank’s ability to quickly provide complete, relevant data has made its users more interested in how they can then leverage the information to guide immediate decisions and optimize all areas of operation,” said Dan Potter, chief marketing officer at Datawatch. “Automating cumbersome manual processes of data preparation with Datawatch can result in powerful positive change in the way banking gets done.”
About Datawatch Corporation
Datawatch Corporation (NASDAQ:DWCH) provides the only Managed Analytics Platform that brings together self-service data preparation with visual data discovery. Its software bridges the gap between the ease that business user’s demand and the automation and governance needed by IT. Users can quickly discover key factors that improve their business by transforming data from multi-structured sources, as well as real-time streaming data, into visually rich analytic applications. Organizations of every size, worldwide use Datawatch products, including 93 of the Fortune 100. Datawatch is headquartered in Chelmsford, Massachusetts with offices in New York, London, Frankfurt, Stockholm, Singapore, Melbourne and Manila, and with partners and customers in more than 100 countries worldwide. Learn more at www.datawatch.com. For investor relations information, visit investor.datawatch.com.
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Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any such statements contained herein, including but not limited to those relating to product performance and viability, are based on current expectations, but are subject to a number of risks and uncertainties that may cause actual results to differ materially from expectations. The factors that could cause actual future results to differ materially from current expectations include the following: rapid technological change; Datawatch’s dependence on the introduction of new products and product enhancements and possible delays in those introductions; acceptance of new products by the market, competition in the software industry generally, and in the markets for next generation analytics in particular; and Datawatch's dependence on its principal products, proprietary software technology and software licensed from third parties. Further information on factors that could cause actual results to differ from those anticipated is detailed in various publicly-available documents, which include, but are not limited to, filings made by Datawatch from time to time with the Securities and Exchange Commission, including but not limited to, those appearing in the Company's Annual Report on Form 10-K for the year ended September 30, 2014 and Forms 10-Q for the quarters ending December 31, 2014, March 31, 2015 and June 30, 2015. Any forward-looking statements should be considered in light of those factors.
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