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Data Enrichment Solution for Hierarchy Information for a Largest Bank

Xoriant Marketing
Data Enrichment Solution-for-Hierarchy-Data-Largest-Bank-Xoriant

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.

Xoriant Solution | Key Contributions

  • 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.

Business Benefits

  • 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.

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