Research commissioned during 2007 found that the overall approach to data quality and integrity around the world is at best half-hearted and at worst cavalier.
Poor data management impacts directly on revenue. Only 46% of researched companies were looking at a formal strategy in place. Although, this was an improvement on previous years, however it means a majority of organisations do not have an enterprise view of their data.
Compliance obligations are demanding accurate client contact data. This represents an internal and external risk to operations and inaccurate reporting of results.
Symphonise offer data cleanse and validation services using the Incanto rules and decision engine. Special function "look-up" capability coupled with "fuzzy name and address matching" provides the quality checks on existing data. 3rd-party name and address validation ensures the Legal Entities and verifies the cleanse.
For data to be maintained after cleaning, we can provide maintenance engines for deployment in client take-on systems, or we are able to deploy an integrated workflow and data maintenance logic for the complete "Know-your-Client" (KYC) lifecycle.
Compliance obligations like SOX or MiFID can be encapsulated within these workflows to provide full specification appropriateness or suitability checks, with the relevant document generation and management, all fully incorporated within this solution.
