RCI Bank and Services Transforms Data Management with Alteryx and Drives Businesses Forward

RCI Bank and Services offers its Services to individuals and Companies that want to take advantage of the credit facilities and financing available. They also focus on other areas like digitization and data management. “We always aim to be on the cutting edge of technology and digitization, as it’s critical within the financial services world,” says Jaime Periquet, Chief Data Officer at RCI Bank and Services. “We really focus on data – it’s our main asset and a strategic part of our work – our bread and butter! It lets us accelerate the Renault Group’s business. This is despite the fact that it’s a Subsidiary with a lower turnover than other parts of the Group. We have a knack for working with startups, and that allows us to be a benchmark at a tech level within Renault. Our intervention rates are really high and we’re super agile when it comes to our response.”

“In Spain, we’re at the forefront of implementing predictive models thanks to Alteryx,” states Periquet. “It’s the only country with working predictive models that are directly connected with our financial institutions. When it comes to data management, we have a data warehouse and offer a data service – with 20 years’ experience, we’re supporting and often leading the change in data strategy globally. As for the rest of the Company, the Group created a Data Department with the Chief Data Officer as the primary Lead. There’s a Data Governance Strategy too, and a Target Operating Model that specifies responsibilities, roles, the technology and structure to be employed for managing data on a global scale.”

Before the implementation of Alteryx, RCI Staff used Microsoft Excel for pricing, risk calculation, sales forecasts, results forecasting and recovering debts. The capacity for innovation and the implementation of new projects was reduced as a result of this. The Company managed multiple solutions. There was an SAS-trained credit scoring tool, an Oracle data warehouse, an ad hoc ERP, Business Objects for operational BI reporting and SalesForce as a CRM tool, plus SAP for accounting. The Company also had some in-house applications for ETL and web analytics. Essentially, the data from all these tools was totally disperse, so the RCI team couldn’t work consistently.

RCI Bank and Services found out about Alteryx’ capabilities via a use case from the Management Control Department. It was an ETL (Extract, Transform and Load) project to automate and clean up Excel files with formula, linking very complex data. From that starting point, the Company decided to onboard Alteryx, having seen that it could be a strategic investment worldwide, reducing the generation of long lines of code by simply clicking and dragging a box. This simplifies workflow management and the creation of new workflow tasks.

The main users of Alteryx technology are the Data Team and the Risk Department, as well as people who work on the most complex projects. “Having Alteryx technology has given us more autonomy and freedom in the way we work, as the Data Team focuses on delivering value by managing data in a smart way, rather than building that data repeatedly,” notes Jaime Periquet.

Implementing Alteryx has democratized ETL tools (data extraction, transformation and loading processes) and Data Science in general, which was inaccessible before for a lot of people. Tech makes it possible to unify data and easily reach all Departments in the Organization, basically. Now the company is 10 times more agile and has a flexible working methodology that has increased productivity. RCI has gone from using 5 data applications to managing more than 30 in parallel – that makes it a key area for decision making.

In no time at all, RCI began to see results. The optimization of data processing in Excel improved significantly in a matter of weeks. And the advanced analytics model started to impact the Business in under 6 months.