The Data Challenges in
Data understanding and especially customer information have become a huge challenge with many implications. Large to medium enterprises, multi-national companies and merged companies have fragmented IT, different database software and multiple CRM systems in different locations, subsidiaries, and languages. Most of them have no common data structure or even a common schema between them, and most legacy databases incorporate older technology containing corrupted and inaccurate data. All of which become obstacles when the need to use the data arises (e.g. to identify one client throughout various databases).
Further, Security requirements and Privacy rules (such as GDPR, CCPA) – prevents sharing information between organizations and even between the subsidiaries of the same organization internally. This poses a substantial barrier for comprehensive Risk Assessment, KYC, AML Compliance, or any attempt towards a 360 customer view, whether for Risk/Fraud assessment tasks or for the reinforcement of full marketing and sales (up-sale) potential of a customer and fulfil overall offerings.
Key – Challenges:
Advanced Automatic Technology to Map, Unify and Navigate across Multiple & Multi-dimensional Databases
gathers all the existing information about a customer, within the organization systems and subsidiaries. From currently fragmented data to a clear “connected dots” view.
Halting financial crime by matching names across all Sanction/PEP lists even when names are misspelled, different languages or contains a transliteration mistake.
Trace the customer directly /indirectly associated data links and movements across the organizations data sources.
Overall Organizational Data is spread across separate Database Silos, different systems in different locations. The result data is fragmented, unstructured and duplicated.
Fincom’s Core-Tech
Unify different data entries for the same customer, across 40+ languages from various CRM systems. Common structural or systemic changes occur following M&A’s, or strategic upgrades, etc. Can ands often result in different CRM systems, creating a new database with its own structure.
Customer communication management, enhanced direct-mail systems, CRM automations service, marketing and sales optimization
Unifying query across different CRM’s of the organization, enables 360 View of your Customer, to know for real the untapped customer potential and atune better your service offering.
Trace and present an holistic view on Customer data across separate silos, geographic locations, different CRM systems, different Entity types (Company, Personal or Family accounts, etc.)
Improve how marketing strategy is applied towards a customer. Create a 360 Customer view - ‘Seeing your customer’, avoid duplication or optimize marketing communications.
