KEY CHALLENGES
Our client, a large retail bank, was interested in assessing the data quality of their customer data, specifically with respect to understanding how any data gaps or data quality issues might impact the effectiveness of their sanctions and PEPs screening.
The client was aware of certain data quality issues related to the completeness and accuracy of customer data, but was unsure of the extent of the issues, and with over 80 different data sources of customer data and more than 10 million personal and organisation customer records, undertaking a comprehensive data quality review of all customer data presented a challenge.
SQA PROPOSED SOLUTION
SQA Consulting has an automated data quality assessment tool, the Data Profiler, designed specifically to analyse large volumes of data quickly and easily. It is fine-tuned to focus on those data types that have a particular focus for customer sanctions and AML screening, including:
- Personal Names
- Organisation Names
- Address
- Country
- Nationality
- Date of Birth
SQA proposed a small team of 3 people, who would use the Data Profiler tool to undertake an assessment of all customer records for data quality and data completeness.
SOLUTION BENEFITS
- The Data Profiler tool was installed on the client’s own hardware and network, so our team could work in the client’s offices, thereby ensuring complete data privacy and data security of the customer data, which never left the client’s own environment.
- Data quality analysis did not need to employ a sampling methodology, instead, the use of the Data Profiler automation allowed every one of the 10 million-plus customer records across over 80 different files to be analysed individually.
- All of the data analysis work, which using other data analytical tools manually might take a team of people months of work, was completed in three days by our three people.
- The analysis produced by the Data Profiler enabled us to produce a report for the client which identified and quantified all data quality issues within the customer data.
- The report provided assurance for the client that there were no significant data quality issues within their data and that the customer data was suitable for screening. What data quality issues were present were typical of the issues generally seen in large databases of customer data and the report was able to quantify the extent of these issues.
- The report provided the information required by the client to be able to make an informed risk-based decision over the types of data quality issues present in their customer data and prioritise the investigating and correcting of data issues.
- From the Data Profiler we could produce detailed reports identifying which customer records in which data sources exhibited which data quality issues, thereby providing the detailed information necessary for the client to identify and remediate specific data records.
