White Paper

Accuracy You Can Bank On

Banks and financial services organizations must comply with a growing list of regulatory compliance measures aimed at preventing financial crime. They’re also seeking growth opportunities in a highly competitive market. With every interaction, they need to increase customer lifetime value by providing a more personalized, satisfying experience.  Compliance and growth are often seen as disparate objectives, but with Precisely they don’t have to be. We can help you know more about your customers, so you can achieve more. You can then apply this information to improve business results across your strategic initiatives.

Optimize regulatory compliance

The stakes are high. Compliance is more challenging than ever. You face an exponential rise in transaction volume, coupled with new, more stringent regulations. Organizations that fall short face harsh penalties, damaged reputations and loss of customer trust.

  1. Find Clarify financial relationships by confirming the identities of all parties to each transaction. Sophisticated software helps standardize and validate your customer data to identify matches using advanced algorithms. More accurately resolve identities by comparing millions of name variations, including nicknames and different spellings, across 143 cultures worldwide. Solve complex consumer address issues. Use the corrected data to create precise customer profiles that let you recognize your customers, improve compliance and lower costs.
  2. Link Make the right connections across parties, accounts and transactions. Easily correlate, link and store data from multiple sources to improve match confidence and insight. Create unique identifiers to connect the dots across complex relationships and investigations. Capture feedback to minimize false positives and update customer risk profiles.
  3. Visualize Use rapid data modeling to create a knowledge graph that makes it easy to detect complex relationships across roles, processes and interactions. Reveal non-obvious links between entities and identify hidden risks. Benchmark activities against trends in your exception records, and identify key performance indicators. Expedite workflows with customer-centric rules that consolidate, assign and prioritize alerts. Improve productivity by eliminating time spent toggling between multiple systems, and achieve better outcomes at lower cost.
Regulatory Compliance Accuracy You Can Bank On