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Solutions for Asset Management Companies
Overview
The stock market boom in the recent years resulted in explosive growth of customers investing in Mutual Funds and many other financial products. Needless to say all Asset Management companies are putting effective data management practices into place. Asset Management Companies are realizing the power of Information what their customer databases can provide.
Identity resolution and Management is no longer limited to detect potential risky customer but potentially profitable customer also.
Implementing wise business strategies:
For an Asset Management Company customer data is a valuable asset. They are realizing that many of their customers have multiple relationships with them. Single view of the customer will help in identifying the correct customer profile leading to adequate product targeting. Determining the product holding of each unique customer will not be possible unless all the records belonging to the same customer have been identified. One can also determine consolidated product holding of the house-hold.
Decrease Costs:
Maintaining accurate customer data saves the company from serving the duplicate data over and over again and raises overheads on mailing and telephony costs. Identity check can help to merge data and give accurate customer information. Maintaining a complete and accurate view of the customers brings increased efficiency and effectiveness to their marketing and customer service operations.
Improving Image:
Regulatory agencies have realized the importance of Identity check to reduce operational risks. For financial institutions today, failure to comply with these requirements entails severe penalties in addition to increases exposure to compliance, reputational, strategic and operational risks. Compliance with their norms increases the reputation and image of the organization. Identity check is very critical for meeting AML (Anti Money Laundering) OFAC, KYC (Know your Customer) norms.
The technology developed by Posidex is precisely the kind of technologies to help Asset Management Companies to cluster data based on names, addresses, descriptions and date of birth and other parameters of identification, despite the error, variation, and duplication within the associated data.
For more details, refer to Benefits of Posidex products and solutions |
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