Banking

The Challenge

Financial regulations are rapidly changing and increasing in number and scope. As a result, banks must spend a large portion of their allocated budget to ensure they are in compliance with these requirements.

In addition to facing regulatory pressure, banks must remain competitive and efficiently serve the increasing expectations of their customers. After all, it's become more difficult than ever to acquire new customers and keep them satisfied for long periods of time.

To overcome this, banks must balance revenue growth with regulatory compliance. They must continually evaluate and improve their operations to keep up with the fast pace of change in banking and financial industries today.

Our Banking Solutions

For more than 45 years, Innovative Systems has helped many of the world's top banks ensure that they have the highest quality data to meet the stringent demands of their industry. Clients such as Scotiabank, China Construction Bank, Bank of Montreal, Charles Schwab, Ally Bank, Riyad Bank, Bank Central Asia, Bank of Ireland, and Saxo Bank have trusted Innovative for their customer data management needs.

Our solutions have provided a solid foundation for cleansing and linking customer data to identify meaningful connections and obtain a full picture of the customer. As a result, these banks have been able to leverage their customer data to the fullest potential and identify new opportunities or risks.

Regulatory Compliance
  • Ensure accurate and efficient suspect screening to strengthen your compliance with anti-money laundering and anti-terrorism mandates such as OFAC's SDN; USA PATRIOT Act; Financial Action Task Force (FATF); UK Anti-Terrorism, Crime and Security Act 2001; EU and UN Security Council Resolutions; Common Foreign and Security Policy (CFSP); and HM Treasury

  • Enhance your compliance with regulations such as Know Your Customer (KYC), Customer Identification Program (CIP), Sarbanes-Oxley, and Basel II & III with accurate enterprise data.
Mergers & Acquisitions/Data Migration 
  • Profile data prior to conversion to identify inconsistent formats, improper entries, and other errors that could lead to integration delays or failure

  • Accurately identify the number of customers shared by the participating organizations in an M&A initiative to enable more precise valuation of the acquired database

  • Use the results of data profiling when writing the mapping and transformation specifications to help ensure a successful integration the first time

  • Populate the new combined database with accurate, consistent, and de-duplicated records to ensure its quality, integrity and usability from the outset
Data Quality
  • Strengthen risk management as well as sales & marketing by cleansing, standardizing, and linking customer records to create an accurate profile of a customer's total relationship with your organization across your offerings, applications, and subsidiaries

  • Manage changes and updates to ensure that each customer's core profile is maintained every time new data enters the organization, regardless of the application or channel
Customer-Centric Databases/CRM
  • Enable your customer service representatives to deliver personalized service and communication each time a customer touches your organization by creating up-to-date, consolidated customer views that can be shared across the organization

  • Strengthen cross-sell and up-sell efforts by identifying extended relationships, including customer-to-customer, customer-to-product, and customer-to-organization relationships
Address Validation and Geocoding
  • Enhance the efficiency and deliverability of your mail communications by verifying and automatically correcting addresses against postal service standards

  • Differentiate your marketing product and pricing efforts by region, for example, identify high-risk areas -- and customize your product offerings accordingly

  • Reduce postage and mailing-related production expenses by qualifying your bulk mailings for substantial postal discounts related to bar coding and carrier route sorting

Identify opportunities & risks
with a trusted solution.

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