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.

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.