CUSTOMER PROFILE

SANTANDER PRIVATE BANKING EMC Document Sciences xPression delivers state-of-the-art financial statements

BUSINESS OVERVIEW

Santander Private Banking (SPB) is the international wealth management division of Grupo Santander, the largest bank in the Euro Zone by market capitalization. Founded in 1857, Grupo Santander has more than 129,000 employees, 66 million customers, 10,200 offices, and operations in more than 40 countries. It is the largest banking group in Spain and Latin America by business volumes.

CHALLENGES

SPB offers wealth management services and supports a full range of investment products to clients in Latin America and, increasingly, Europe and Asia. Strong client relationships are critical to long-term success in wealth management. Building and maintaining those relationships is a very high priority at SPB.

“Our clients place their future in our hands,” said Ramiro Lopez Larroy, Senior Vice President and Director of Strategic Planning for SPB. “They expect us to protect and grow their wealth, and keep them informed on our progress.”

The consolidated financial statement is at the center of the client relationship. SPB became concerned in recent years that it was not adequately conveying account status in its statements.

“Our clients wanted more detail presented in a clear, more readable format,” Lopez Larroy said. “We needed to vastly improve our statements to remain competitive.”

The existing statement generation system was not up to the task. Bankers accessed a limited end-user interface to generate their statements. Cumbersome production processes based on old technology also challenged SPB’s ability to include detailed information within statements. As a result, SPB was falling behind competitors in terms of the quality, timeliness, and relevance of its statements.

EMC SOLUTION

SPB put together a team, including the highest levels of IT, to establish goals and select a new solution. The team identified the following key needs:

A flexible design environment for developing more visually appealing statements that include enhanced data details.

A system that supports both high-volume batch and realtime, on-demand statement generation.

A method to ensure consistency among statements produced at various branches. A web-based user interface for bankers to generate custom client statements on demand.

A strategic partner for data extraction and preparation, and statement design and production

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ESSENTIALS Challenges

Deepen client relationships and stay ahead of the competition

Enable bankers and financial advisors to generate client reports on-demand

Enhance statement content and quality while improving efficiency

EMC Solution

EMC Document Sciences xPression

Key Results

Created easy-to-read statements with more relevant data and dynamic charts

Enabled on-demand generation of custom, consolidated client reports

Reduced production time for batch statements from days to hours

Lowered cost of maintaining and updating multilingual statements

After a detailed evaluation, SPB selected EMC Document Sciences as its strategic partner and EMC® Document Sciences® xPression® software suite as its new statements solution.

“We felt that EMC Document Sciences offered the best solution, both from a technology and partnership perspective,” Lopez Larroy said. “xPression’s service-oriented architecture is an ideal fit with our technology direction and infrastructure, and the company’s willingness to work with us in the development of our solution was critical.”

SPB chose xPression based on the following:

Its powerful design features and intuitive statement design environment, EMC Document Sciences xPresso® for Adobe InDesign

Its Web architecture, based on Java and Java EE.

The technology’s integration capabilities based on XML, JMS, and Web Services, enabling integration with existing systems and infrastructure.

EMC Document Sciences’ global professional services expertise and partnership model.

EMC Document Sciences worked jointly with SPB on the design of a new consolidated financial statement using xPresso for Adobe InDesign.

“xPresso gave us the flexibility we needed,” said Maria Gisbert, Marketing and Publications Manager for SPB. “We were able to use pie charts, graphs, and tables that roll up and loop from page to page, with only the applicable sections showing for each client. xPresso’s ease of use is really remarkable.”

“Using xPression enabled us to create a world-class statement that surpasses our competition.” Ramiro Lopez Larroy

Senior Vice President and Director of Strategic Planning, Santander Private Banking

In addition to the new look and feel, the new statement now includes significantly more information.

“Our clients expect more breadth and depth of information,” Lopez Larroy said. “With xPresso, we are able to deliver that information. The statements now include a new summary section, better securities description, acquisition dates, NAV dates for hedge funds, and additional information sections.”

Using xPression’s XML and data-mapping capabilities enabled easy data extraction from SPB’s database as well as fast-batch printing and archiving. SPB is able to extract extensive data, including asset and account evolution details, calculated changes from previous statement, liquid investment details, categorization of fixed income investments by instrument type and credit rating, bond analysis, and much more.

Additionally, by leveraging xPression’s Web Services, XML support, and rule-based statement template design features, bankers are able to generate custom client statements on demand. The old interface was rudimentary and did not provide the functionality and options required.

“This is such an improvement from the old technology,” Lopez Larroy said. “The bankers are thrilled with how easy it is to create a custom statement on demand.”

At SPB the marketing, statement production and customer service areas are all heavy users of document generation. Each month hundreds of thousands of pages are created as part of the financial statement production process and delivered in whatever form the clients need. With SPB’s new statement infrastructure based on

xPression, this process is far more efficient and the output is consistent across all regions.

“Before it used to take a couple of days to print all of the statements,” Gisbert said. “Now it can be done in just a couple of hours.”

SUMMARY

By using the EMC Document Sciences solution, SPB has been able to respond to client demand with more intuitive and informative statements, deepen client relationships, and stay ahead of the competition.

Among the changes made by SPB:

More appealing statements: Easy-to-comprehend statements feature dynamic charts, categorization of transactions, tabular summaries, and advanced pagination.

Additional financial details: Statements include more relevant data, expanding the breadth and depth of information provided to clients.

Easy customization: Intuitive interface enables bankers to create custom statements for any client.

Increased productivity: Faster batch runs and on-demand statement creation reduce work from days to hours.

Consistency across regions: Improved control over statement design increases consistency and enhances the SPB brand.

EMC2, EMC, the EMC logo, Document Sciences, xPression, and xPresso are registered trademarks or trademarks of EMC Corporation in the United States and other countries. © Copyright 2010, 2013, 2015 EMC Corporation. All rights reserved. Published in the USA. 06/15 Customer Profile H5042.3 EMC believes the information in this document is accurate as of its publication date. The information is subject to change without notice.

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