Banking

Solution You Can Bank On

About the Client
The client is one of India’s largest private sector bank and has a very wide network of more than 1000 branches spread across the country. It has strengths in both retail and corporate banking and is committed to adopting the best industry practices internationally in order to achieve excellence.

Client’s Pain Points
To strengthen its KYC process for covering risk and compliance, the bank decided to implement a solution for Single View of the Customer identifying the relationship of the customer among its core banking, core lending and the credit card systems.

This required Cross Matching of the entire customer base among the core systems to determine the complete exposure of the customer to the bank.

The Bank identified complex set of matching rules involving all the parameters. The bank also wanted to have a standard data quality and identity resolution.

The bank had additional challenge as well — the existing solution had a rudimentary checks component:

  • Unable to scale daunting volumes which ran into millions of records
  • Unable to resolve the underlying data quality issues
  • Lacked predictability

Posidex Solution
The bank opted for PrimeMatch® based Data Management Solution suite with powerful SetMatch® engine after a thorough evaluation process. The bank was impressed with the speed and accuracy of matching, as well as flexible configuration addressing the underlying data quality issues.

Posidex provided the analysis of the data quality, which helped the bank to finalize a set of optimum matching rules.

Results

  • Perform bulk de-duplication of the entire customer databases in three core systems and re-building a single source Customer Master Data from the ground up
  • Analyze cluster that were categorized into confirmed clusters and less probable clusters. Verification of the less probable clusters with least manpower. And finalize customer master, on time and on budget
  • Process daily volumes generating Single View of the Customer by End Of Day
  • Easily match any external data for regulatory purposes. If desired, real-time query capability could be integrated seamlessly
  • The Bank is now able to quickly implement its KYC process effectively fully meeting its risk and compliance requirements