The Challenge

Data in financial institutions is often of poor quality, inconsistent or stored in disparate databases. This can be due to mergers and acquisitions or inconsistent business processes across different units. The problem is that your firm may be in peril if your data is incomplete, inaccurate and unavailable when you need it. Without quality information at your fingertips, you cannot make timely, well-informed decisions to capitalize on new revenue opportunities, comply with regulations, pinpoint unforeseen risks or address new competitive threats.

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Loyalty is key, as evidenced by the fact that approximately 65% of new product sales are won by customers’ primary bank.
-Bain

The item most often rated as extremely or very challenging in stress testing was data quality and management for stress testing calculations.
-Deloitte

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Only 48% of consumers got home mortgages and financial advice and 47% opened registered retirement accounts or sought investment services from their primary bank in a 12-month period, which indicates that cross-selling opportunities exist.
-Accenture

The Solution

Trillium enables you to rapidly improve the quality of data across your organization and create a unified view of customers that you can trust:

  • Enhance customer loyalty by having a complete view of account status and history, so you can provide personalized information to best serve your customers’ needs
  • Increase revenue through cross-selling and marketing programs that target the right customers with the right offers by understanding demographic information, risk appetite, product mix and more
  • Accelerate regulatory compliance and strengthen credibility with regulators by establishing sustainable data governance processes and by seamlessly accessing, validating and gaining insight into critical information from across your organization
  • Optimize risk analytics with accurate, complete data so you can better understand risk exposure, identify fraud and ensure proper business conduct

The new system provides accurate, more timely and actionable information to the decision-makers at HSBC Bank Canada. Reports and analyses that used to take weeks to prepare can be done now in a matter of minutes. These analyses were impossible prior to Trillium Software and the data warehouse system implementation.

HSBC

Learn More

Datasheet: Data Assurance for Financial Institutions

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Case Study: HSBC

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Video: Banking

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