A leading national bank provides comprehensive financial services to consumers, small and medium-sized businesses and large corporations. The company has more than 2.5 million clients and over $100 billion in assets.
The bank was launching a major initiative with the goal of having a single, unified view of its customers. The bank sought to have a single key identifier for each of its customers, which could be used to draw on the existing information within the bank’s data warehouses. The result would be a unified master record containing accurate information about each client – accessible from any point of contact.
An outside vendor was engaged to help with this initiative. This company’s software was deployed, and the bank began attempting to fulfill its goals. However, it became clear that the output data was simply not useable. The bank began to see that there were too many data quality issues within its source data to create a unified record. After three years, the bank had to abandon its efforts and seek another solution – one that would allow them to profile their data and produce high-quality data as the master records were created. To achieve these objectives, the company turned to DataFlux.
The company chose DataFlux technology to meet its needs. DataFlux allows business users to easily analyze, improve and control data through an intuitive graphical user interface. With DataFlux technology, users can easily construct data quality rules and then enforce them in batch or real time across the enterprise with the DataFlux Integration Server.
The bank took advantage of DataFlux data profiling capabilities to understand DataFlux data profiling capabilities, allowing them to understand the exact scope and nature of their data quality issues. With this understanding, the company could then use DataFlux’s award-winning technology to cleanse, standardize and de-duplicate customer records, as well as enhance customer data through address verification and standardization.
DataFlux was brought in for a demonstration and within three days, the technology had profiled, de-duplicated and cleansed all three trial data sets that the bank had set forth.
The power of DataFlux technology, combined with the ease-of-use of the intuitive interface, allowed the company to rapidly advance towards its goals. Profiling the customer data in the warehouses was accomplished in three months by two interns. In a single summer the bank gained more knowledge on the integrity of its data than it had in the three previous years.
The data management team has become an enthusiastic advocate of the benefits of data profiling throughout the bank’s operations. As the organization continues toward its goal of have a single, unified view of its customer, the company is convinced that without high-quality data, powered by the DataFlux platform, the goal would be unreachable.