Over the course of partnership with Ataccama, the bank consolidated customer portfolios of three banks and gradually moved from one-off tactical portfolio consolidations to strategic MDM working in batch and online modes. In batch mode, the MDM hub consolidates data from four source systems and exports data to the enterprise data warehouse for consumption by the whole organization. In online mode, the MDM hub prevents duplicates and detects fraud.
The bank later extended its MDM solution to comply with GDPR regulation using out-of-the-box features of Ataccama ONE MDM.
Solution benefits include:
Reliable prevention of duplicate client records and an improved client experience
Full GDPR compliance
Successful implementation of a KYC initiative
Fraud prevention in real time
The bank established an MDM hub to achieve a single customer view with full information from all consolidated systems. Customer records are propagated to the enterprise data warehouse on a daily basis and enable full GDPR compliance, including the identification of client information in all systems and support for the right for erasure. Beyond regulation, the bank relies on deduplicated customer records to decrease costs and improve the efficiency of its marketing activities.
The bank deployed 5 web services powered by Ataccama ONE to cleanse and validate data entered by branch workers when creating or editing client records. The web services incorporate a number of external registries and black lists for validating addresses and legal entities, and detecting relationships between persons for fraud prevention.
Based on daily processing, the bank generates a report of potential duplicate customer records to complement deterministic matching. The report is processed by customer care representatives who further investigate the data to verify the information. This gives the bank the flexibility to work manually with complicated matching cases and prevent false matches.
Ataccama enabled reliable capacity, route, and financial planning via a centralized reference data management solution, providing data automatically to all key consuming systems.
Ataccama implemented centralized consent management and authorization for the bank’s customer data, laying the foundation for GDPR compliance.