Data Enrichment Solution for Hierarchy Information for a Largest Bank

Client Background

Our customer is one of Israel’s largest banks with a significant presence in global financial markets.
The existing customer information was maintained in different operational databases.
This decentralized process was manual, time-consuming, and led to duplicity of information in the customer’s banking ecosystem.

The customer trusted Xoriant for its years of pioneering technology excellence with proven digital transformation solutions powered by well-established frameworks and accelerators for payments, FX, data management and governance, and advanced analytics.
Re-engineered customer’s existing system to organize, optimize and make it efficient.
Developed a solution that harmonize relationships and definitions across multiple operational databases, consolidated entities from global locations into a centralized repository.
Captured and highlighted corporate action events on regular basis.

Enhanced approximately 92% data coverage for entities.
Improved the data quality from 87% to 99% using centralized processes.
Facilitated credit risk monitoring with the maintenance of updated counterparty information.