Data Management Practice CDD Data Transformation
A Global Banking and Financial Services Institution was mandated by the Federal Government to clean up their customer data and make it available for audit by the regulators
Diving into a Transformation and Extraction Project
The customer needed to provide regulators with clean validated records for auditing. The customer’s source records needed to go through a process known as enrichment. It is either through transformation or extraction depending upon customer’s relationship with the bank.
The global bank’s challenge was to identify, assemble, merge, and transform the customer data records for consumption by the bank’s Regulatory System. The bank lacked formalized documentation and business rules about the sources, constraints, and data mapping guidelines which complicated the data transfer process to the regulatory system.
Completing Both Projects in a Timely Manner and Reducing Operation Runs by 50%
Vaco built two new process workflows to meet the challenge. The first managed the extraction process and the second managed the transformation process. Each process workflow followed a weekly cycle to intake / process new and updated data from the different Lines of Businesses.
Vaco leveraged its Adaptive Framework (VAF) methodology to speed development and maintain high levels of consistency during the project. The framework’s foundation used a modular design that allowed the Vaco specialists to develop, test, and upgrade segments of code easily and without affecting other parts of the application.
The Vaco Adaptive Framework also helped streamline weekly Operation Runs by managing the segments necessary to conduct the jobs. By mid-project, the frequency of weekly Operation Runs had been reduced by 50%.
Vaco specialists built an extraction process to filter, merge, and extract customers who have matching regulatory documents using multiple sources for data feeds. The modular design of the VAF allowed the customer to modify as well as insert new business rules with minimal impact to development and the project timeline. The BI dashboard provided the customer key insights on issues and successes faster and more frequently.
The transformation segment of the project also followed a similar path. Vaco built a process to filter, merge, and transform customers for regulatory review. The modular design allowed the customer to modify as well as insert new business and mapping rules with minimal impact to development and the production timeline.
Vaco specialists used a variety of analytical techniques to identify missing and poorly populated segments of the composite customer record. This allowed the customer to focus their research and fix the data problems efficiently. The project became operational much faster than expected due to the early analytical profiling work conducted by Vaco’s specialists.