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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.