A large international financial institution was struggling to acquire, maintain and manage multiple classes and hierarchies of data within existing systems and processes. As a result, they faced significant difficulty assigning credit risk and calculating capital requirements and RWA. They also missed out on product sales opportunities, and encountered various deficiencies with several ongoing regulatory reporting deliveries.
Challenges
- A centralised data store had been deployed, but was not being leveraged to full potential due to lack of clarity around data grouping
- Lack of consistent, cross-system hierarchies maintained across the institution
- Inconsistent data quality, architecture and storage methodology were hindering remediation efforts
- Multiple instances of the same entity proved difficult to track across separate systems and functional processes
The Brickendon Solution
- Rapid customisation and deployment of an industry-leading, off-the-shelf MDM software solution and integration with existing systems
- Architecture refinement to mitigate issues with hierarchical data
- Product families catalogued and grouped by hierarchal classification, as required for Basel III and various other regulatory reporting guidelines
- External reference data leveraged to verify and remediate omissions and errors
Client Benefits
- An improved and consistent customer experience across all channels, products, business lines and geographies
- Improved cost-of-capital by utilising more accurate calculations and assigning capital more appropriately
- Substantially reduced costs for legacy systems maintenance, support and licensing fees
- Delivered capabilities to map an unlimited number of corporate relationship levels including automated acquisition and divesture tracking
- Data remediation and standardisation allowed the client to identify and cross-reference related data from multiple sources
- Improved levels of customer service, greater efficiency in sales and relationship management support, and improved data quality for KYC processes and regulatory reporting requirements
