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About the client:
One of the largest banks in the United States, the client provides banking and related services to commercial and individual customers through over 60 branches.
Market situation
Siloed operations had resulted in the lack of comprehensive customer information, which impacted risk management, regulatory reporting, sales and customer service.
Business challenges:
- Critical applications not always available due to data warehouse challenges
- Conducting a robust end-to-end QA of the Suspicious Activity Monitoring platform comprised the Actimize product and associated upstream and downstream systems
- Compliance with regulatory requirement of monitoring payment behavior throughout the client relationship; and identifying any peculiarities in behavior / unexpected client characteristics
Mindtree’s solution:
- Developed and implemented a customer-facing portal for retail business for both internal and external customers
- Established an API-based data exchange between the entities which enabled sharing of industry-standard Car Location Message (CLM) data to reduce per-unit transportation costs
- Compliance with global anti money laundering established by carrying post monitoring of all payment and lending transactions
- Built a Credit Mart, a repository of relevant data elements from 29 account receivable systems for the Corporate Risk Management team
- Intense data mining to ensure wide variation of behavior detection
- Maintained master data & enabled the CRM team to input details to create industry level risk report
Business benefits:
- Data consolidation across 50 countries and five business segments as part of a data management program initiative
- Improved the trending and forecasting capability with availability
- Data validation framework achieved 100% data accuracy
- Close to 90 attributes were tracked for historical changes
- Orchestration framework managing over 500 ETL workflows
- Dedicated and focused 24x7 support catering to different time zones.
- 10% savings within the first year.
