Bank of Ireland

Single view of Client (SVC) and continuous data quality

bank-of-ireland-logo

Bank of Ireland (NI) offers an integrated commercial banking service to personal and business customers in Northern Ireland, selling a wide range of banking products. BOI employs more than 1,200 people; the bank has 140,000 retail customers and 25,000 business customers.

Challenge

Bank of Ireland had customer data spread across isolated current, mortgage credit card and personal loan account systems. The challenge was to create a manageable Single View of Customer (SVC) database to consolidate data within these disparate systems.

The SVC was to be used to provide a comprehensive marketing database, to enable the bank to up-sell and cross-sell products more effectively. In essence, the bank sought to obtain a better understanding of its customers in order to achieve more effective targeting, thereby maximizing revenue per customer as well as increasing the overall customer base.

 

Solution

Kainos, one of Ireland’s leading financial services Systems Integrators (SI), was asked to respond to this challenge. It identified as the key challenge the ability to clean the data originating from each legacy system and then to match and merge it. Kainos selected Datactics to fulfil these requirements.

Using Datactics technology, a data quality assessment was conducted, revealing significant potential duplicates, as well as a number of other issues that compromised the integrity, completeness and accuracy of the data.

Again using Datactics technology the data was subjected to a Clean Match Merge (CMM) process, which enabled the customer data to be:

  • Imported
  • Standardized
  • Cleansed
  • Address enhanced
  • De-duplicated

This CMM is now built into the data management architecture at Bank of Ireland, and run on a continual basis. The source systems provide data feeds which are processed to an agreed schedule. The bank has complete access to the processed data and to CMM reports. This transparent approach has enhanced the bank’s confidence in the SVC solution, empowering it to constantly monitor and analyze data quality.

With Datactics we have a data quality technology that both significantly enhances our customer-marketing function and provides a platform for progressing the information quality agenda for future strategic projects.

- Peter McConkey, Head of Marketing Communications Bank of Ireland (NI) Banking

Results

  • Significant reduction in marketing cost and in cost per sale through enhanced targeting and minimal wastage;
  • Increased response rates from existing and prospective customers;
  • Better understanding of customers, facilitating;
  • Effective up-selling and cross-selling;
  • Effective lead generation;
  • Overall revenue increase.
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