Centerprise is used by a number of companies in the banking and insurance industry for automating their data flows to remove data management complexities and improve data quality.
One particular servicing acquisition group for a well-known global bank was responsible for the entire workflow related to acquiring servicing rights from a wide range of sources. This consisted of sourcing data from originating lenders, aggregators, and other business partners, covering the steps from initial evaluation, overseeing bidding, and pricing to data cleansing, completing due diligence, and ensuring transmission to servicing management applications.
The key challenge for the acquisitions group was that large volumes of data arrived daily from a multitude of partners in different file formats and structures. The data mapping logic was scattered in a number of Access databases and the difficulties of tracking these databases posed risks related to security, regulatory compliance and customer privacy.
Requirements for the new data integration software included that business users must be able to manage the data transformation process without day-to-day IT involvement, new business partners must be able to be integrated quickly, all transformation and validation rules must be centralized in a single repository, and major productivity gains must be achieved.
Centerprise was deployed on time and within budget and met or exceeded all objectives and requirements. What once took 20 people to accomplish now takes one person. The time for onboarding new partners has been cut from 3-4 weeks to less than one week.