Bank Risk and Compliance

One of the India’s largest private sector banks uses PrimeMatch® for Single View of the Customer across its three major core systems.

About the Client

Our client is one of the India’s largest private sector bank and has a very wide network of more than 1000 branches. 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 the Know Your Customer (KYC) process for covering bank risk and compliance, the bank decided to implement the solution for Single View of the Customer identifying the relationship of the customer among its core banking, core lending and the credit card systems. It 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. However, the bank was facing challenges with its existing solution that has rudimentary checks.

  • Unable to scale daunting volumes in millions of records
  • Unable to resolve the underlying data quality issues and
  • Lacked predictability

Posidex Technologies’ Solution

The bank chose PrimeMatch® based Data Management Solution suite with powerful SetMatch engine. After a through evaluation process, the Bank was impressed with the speed and accuracy of matching as well as the flexible configuration addressing the underlying data quality issues. Posidex Technologies provided the analysis of the data quality which helped the bank to finalize set of optimum matching rules.

Results

With the Posidex Technologies solution, the Bank could

  • Perform the bulk de-duplication of the entire customer databases among the three core systems building the Customer Master Data.
  • Analyze cluster that were categorized into confirmed clusters and less probable clusters, verify of the less probable clusters with least manpower and finalize customer master within the time and 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 can be integrated seamlessly.

With the deployment of the Posidex Technologies solution the bank is able to quickly implement the Know Your Customer (KYC) process effectively addressing its risk and compliance requirements.