Master Data Management For a Financial Services Company

Financial Services Company

A redesigned customer acquisition process and data flows to make the Enterprise Customer Information File (ECIF) as the customer master.

Redundant

The lack of consolidated customer information at a financial services company resulted in multiple views of the same customer across various divisions.

Inconsistent

This lack of organization led to inconsistent and unreliable product offerings, services and messaging to the customer.

Master Data

The solution to the client’s challenge was to design and Implement a hybrid MDM (Master Data Management) implementation style, incorporating elements of both a transactional and registry approach.

Challenge

The Challenge. The lack of consolidated customer information at a financial services company resulted in multiple views of the same customer across various divisions. This led to inconsistent and unreliable product offerings, services and messaging to the customer. Fixing these problems was a prerequisite to optimizing the acquisition of new customers and improving cross selling to existing customers.

The Solution

The Solution. The solution to the client’s challenge was to design and Implement a hybrid MDM (Master Data Management) implementation style, incorporating elements of both a transactional and registry approach.    This solution included:

  • A redesigned customer acquisition process and data flows to make the Enterprise Customer Information File (ECIF) as the customer master.
  • Integrated ECIF functionalities with additional applications like Investment Advisors and Commercial Applications, etc.
  • Continuous improvement of ECIF system performance, stability and scalability.

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