- Legacy data platform that relied on third-party services does not meet needs of the business nor allow for compliance with CECL regulation.
- Need ability to identify, capture and easily manage customer data including addresses and key reference data.
- Need workflow to manage complex and ongoing ever-changing customer information – current legacy system cannot handle complexity of current and future needs.
- Need a single view of customer so accurate data can be used in downstream applications and to help identify opportunities for cross-sell and upsell of additional banking services.
- Build an MDM solution with a quick time to implement to support CLEC regulatory requirements and replace existing legacy system; while also building a future proof solution to support analytics requirements, link customer data across the organization and gain internal self-sufficiency to handle ongoing requirements/changes.
- Create a clean master list of customers: eliminate duplicates, verify addresses and ensure complete and correct customer data for CRM usage.
- Create golden records with automated matching and mastering including a data stewardship business process for approving/resolving match results.
- Design workflows to include a simple customer onboarding process and allow for ability to cross-sell and upsell additional products.
- Project work completed quickly and met the timeline for compliance with CLEC regulation – fast time to value on implementation.
- Risk strategy in place to ensure compliance with CLEC which drove the original request to update the data platform.
- Duplicate customer data removed and new workflow and business process for customer onboarding has been created and deployed across the organization. The new business process eliminated the data entry errors across the entire workflow.
- Success with the Profisee Platform has led to compliance with CLEC regulation and advancing customer relationships with a seamless process for offering additional services to customers through a solid foundation for their enterprise data strategy.