BearingPoint supported NORD/LB in implementing a virtual data platform as a crucial building block in its data management strategy, enabling self-service business intelligence for better business insights and decision-making.

Amsterdam, June 6, 2024 – In an increasingly data-driven business environment, banks face the challenge of data quality, availability, and accessibility: the requirements to leverage comprehensive insights for better decision-making and compliance with regulatory requirements.

NORD/LB, one of Germany’s largest commercial banks, recognized the importance of innovation in its data management strategy. Moreover, to make optimal business decisions, NORD/LB saw the need to enhance the transparency and visibility of data.

Transformation to a modern data organization

BearingPoint supported NORD/LB by implementing a cloud-based solution that modernized its data processing and reporting functions. A first-use case was implemented to demonstrate the platform’s functionality with components for reporting the SRB Data Valuation Set.

BearingPoint built the platform using Microsoft Azure and combined four key components by leveraging a data mesh approach aligned to NORD/LB’s new data management strategy. As a result, data from multiple sources is integrated in real-time using Apache Kafka based on a business data model. The data is further classified and structured according to the internally defined business object model, saved in a document store (Microsoft Cosmos), and converted into a consumable format (Microsoft Synapse). Subsequently, Data Virtuality & PowerBI enable businesses to enhance, combine, and visualize data in a self-service manner.

Christian Knedelstorfer, Partner at BearingPoint

I am very pleased about the successful data management project together with NORD/LB. They can now unlock self-service business intelligence capabilities that enable faster and more informed decision making across all business areas. This success is an example of our commitment to delivering innovative solutions that increase operational efficiency and enable organizations to thrive in our data-driven world. Thank you for the outstanding team effort.

Christian Knedelstorfer, Partner at BearingPoint

Enabling self-service business intelligence and business analytics

By investing in this modern reporting platform, NORD/LB will be able to streamline its reporting processes and reduce manual effort. As a result, business departments will be able to react faster and more flexibly to upcoming internal and external requirements.

Additionally, the new solution will be the technical basis for enabling NORD/LB’s employees to access and analyze business data effortlessly. The plan is that they can generate customized reports on business objects, which can be easily understood and used as a foundation for decision-making.

We were impressed by BearingPoint’s ability to grasp our solution design quickly and thoroughly and implement it sustainably and solidly according to our requirements. Their technical expertise combined with a keen sense of what was relevant for management-level decisions during the implementation process was a guarantee of success.

Paul Wegner, Project Manager at NORD/LB

About NORD/LB

NORD/LB (Norddeutsche Landesbank) is one of the leading German commercial banks. As an institute under public law, it is part of the S-Finance Group. The core business areas include corporate customers, specialized financing in the energy and infrastructure sector as well as for aircrafts, the financing of commercial real estate via Deutsche Hypo, capital market business, association business with the savings banks and private and business customers including private banking. The bank is headquartered in Hanover, Brunswick, and Magdeburg and has branches in Oldenburg, Hamburg, Schwerin, Düsseldorf, and Munich. Outside Germany NORD/LB is represented by a Pfandbrief Bank (NORD/LB Covered Bond Bank) in Luxembourg and has branches in London, New York, and Singapore.

About BearingPoint

BearingPoint is an independent management and technology consultancy with European roots and a global reach. The company operates in three business units: Consulting, Products, and Capital. Consulting covers the advisory business with a clear focus on selected business areas. Products provides IP-driven digital assets and managed services for business-critical processes. Capital delivers M&A and transaction services.

BearingPoint’s clients include many of the world’s leading companies and organizations. The firm has a global consulting network with more than 10,000 people and supports clients in over 70 countries, engaging with them to achieve measurable and sustainable success.

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Contact BearingPoint

Alexander Bock
Global Senior Manager Communications
Telephone: +49 89 540338029