You have duplicate customer, supplier, or product data.

Problem

A bank that has been in business for over 30 years, through many acquisitions and spin-offs, has collected a large amount of duplicate customer data. The same customer might have several credit cards, a mortgage, an e-payment program, a personal line of credit and a business account, but to the bank, they are seen as five different customers, rather than a single customer. Not only did the bank have to mail multiple statements, but they really didn’t understand who their customers were and which products they used. Further, every time the bank went through an acquisition, their customers had to update their personal information multiple times. The mailings of duplicate statements alone cost the bank as much over $100 million annually in unnecessary expense. The bank started using E-Business Suite for their own internal back-office operations, and then gradually used EBS as the core of their project accounting and loan systems. Eventually, most of their customer information was stored in EBS. The bank needed a Master Data Management solution that worked within their E-Business Suites and would enable them to de-duplicate the information while maintaining 100% database integrity.

Solution

The bank used eprentise Data Quality software to standardize their customer data, identify candidate duplicates, and the attributes of the survivor customer record. Once the customer data was cleaned and all transactions had complete and consistent data, the bank moved to Oracle Fusion applications and used their new, cleaned EBS customer master as the original source of the customer data in all their other systems. They estimate that the savings was approximately $80 million a year, and they are able to provide better service to their customers.