Using Orchestra Networks™ Master Data Management (MDM) Software, a leading bank unifies its credit reference data in order to reduce risk exposure and enforce compliance.

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Company Profile

This Fortune Global 500 Company, a leading European provider of financial services, is one of the largest banks in the world. It has more than 200,000 employees, in 84 countries, serving clients across retail banking, corporate and investment banking, and investment solutions.

Situation

In 2006, the bank launched a global initiative for credit risk management and regulatory compliance; this effort included meeting Basel II compliance requirements.

Challenge

The main objective of the project was to provide unified and consistent credit reference data that could be used enterprise-wide for credit risk evaluation by the end of 2007. The institution needed to consolidate and then securely manage more than 150 data objects and nearly one million records which were siloed in multiple systems, including databases, ERP and spreadsheets. Risk managers were tasked with taking ownership and management of master data and were required to track changes between versions.

Data Governance Objectives

» Build a central credit risk reference data repository
» Enforce rights and security rules for risk managers across the bank
» Define complex data validation rules and integrity controls
» Provide a highly detailed audit trail for Sarbanes Oxley (SOX) compliance
» Maintain multiple versions of credit risk data
» Empower risk managers with a user-friendly data management tool

Solution: Orchestra Networks EBX

Short turnaround time was a major challenge with this project. Rather than selecting a lengthy custom development option, the bank chose Orchestra Networks EBX. Its out-of-the-box Data Governance features allowed them to quickly build a secure and operational MDM initiative that provided:

» Role-based security and end-user workflow
» Master Data validation rules
» Audit trail and version control
» User-friendly GUI for risk managers and end users
» Ability to incorporate Data as Services in order to propagate changes to multiple systems

Benefits Achieved

» Met the compliance regulation deadline by developing the first prototype in two weeks and then deploying an operational credit risk MDM initiative in less than five months.
» Improved user involvement by providing a user-friendly, workflow-oriented tool.
» Avoided credit risk inconsistencies by defining complex validation controls and enforcing rights and security rules.