The challenge

A global bank had thousands of systems, feeding hundreds of central repositories.

A strategic program was underway to remediate client data and KYC information across the globe in order to meet a number of regulatory and operational challenges.

​The program was under serious time pressure, struggling to cope with two broad areas of challenge.

  1. A wide range of legacy, siloed applications whose data was incompatible and hard to reconcile.
  2. The use of multiple external data sources across different geographies, making cross-matching data very difficult.

The solution

ICX4’s BusinessDNA enabled the Bank to:

  • Map, Connect, cleanse and remediate data across systems (including legacy and siloed applications).
  • No need to alter existing architecture.
  • Gain visibility across the Enterprise.

Faster Validation and Improved Accuracy:

The connected mapping, used in conjunction with the bank’s existing licences, enabled faster validation of data profiling and improved the accuracy and latency of the data.

In addition, once the bank’s data was mapped, entities and attributes could be locked in and monitored for relevant changes (both inside and outside the bank) creating an on-going BAU service to keep the information fully up-to-date, rather than a one-off exercise for remediation.

The results

  • ICX4’s solution enabled a planned reduction of 7 years in the banks regulatory back book remediation program.
  • The solution provides a central governance repository for all countries that can transfer data, coupled with separate local instances where data restrictions prevent transfer.
  • Provided complete sighting on all cross-border trading clients.
  • Implemented single unique customer identifier for all clients (mapped against internal and external identifiers).
  • The program supports the monitoring solution and to date has matched, verified and maintained over 45 million customers on an automated basis.
  • Cost savings to date calculated at over £200m based on the reduction in program timescales and operating efficiencies.
  • Excluding any potential regulatory fines for non-compliance.

45 million matched, verified and maintained customer records

Our Products

enterpriseDNA

A robust, proven global data model used by some of the world’s leading financial institutions to map their entire data landscape, providing a solid foundation for improving operational and data efficiency.

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insightDNA

Provides you with a interactive graphical representation of your data lineage allowing you to understand data dependencies, the impact of data changes and the sunsetting of legacy systems.

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businessDNA

Matches your internal data against a large selection of external data sets in real time, ensuring all corporate decisions are based on the most accurate and current data available.

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listDNA

Creates value from your data, managing complex operational list base challenges including event driven KYC and vendor management, ensuring all are consolidated where required and current.

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enterpriseDNA plus

​Combines the benefits of our four core products, to give any organisation the ability to maximise data and operational efficiency.

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