In the ‘Holistic View of Customer’ Conference organized by Alpharithm, senior banking executives were asked to identify and rank the most pressing challenges they face and their strategies for addressing each. Leading challenges included:
- Innovation
- Operational Excellence
- Cost Reduction
- Enhancing Customer Experience
However, most business executives agree that data is a critical underpinning of nearly any initiative focused on employees, customers, products, suppliers, and other CEO priorities. Data challenges include:
- Inability to quantify cost of bad data
- Indian Address Standardization
- Inconsistent data across LOB
- Duplicate customer records
OneVue also offer the following benefits
- Create a single, consolidated view of customer information
- Retain Customers – Gain visibility into a client’s total portfolio value
- Identify households and organizational structures for cross-sell and up-sell opportunities
- Next best Offer – Manage product bundling including eligibility, pricing and update
- Meet compliance and regulatory requirements
- Centrally manage reference data including code tables
Solution Overview
Alpharithm’s OneVuesolution unleashes the power of IBM’s MDM Technology. OneVue ‘s Master Data Engine comprising of matching and linking algorithms compares data from multiple source systems to deliver single, trusted view of master data and the relationships between entities.
Features
- Pre-packaged web services that can be used to seamlessly integrate the solution with existing business processes and technical architectures
- Real-time PAN verification capability
- Support for Aadhar Number
- Extensible data models enable the bank to extend the solution for other domains such as Product in the future
- Indian Address Standardization provides capability to validate and enrich Indian address data
- Common matching and search engine employs advanced statistical techniques to automatically resolve and manage data quality issues via probabilistic or deterministic options
- Business process management capabilities enable Banks to implement workflows for data stewardship and data governance
- Stewardship User Interface allows the Bank to inspect and resolve data quality issues in real time, including relationships and hierarchies; author and edit the golden record
