Financial services industry is dealing with increasing regulations, dynamic economic climate, and the downturn’s effects on profitability and performance. Information management underpins a number of solutions that are able to address these challenges. InforMeta has provided professional services and delivered world class solutions for many financial services clients.
Regulations like Basel II, SoX, FATCA, TCF, KYC, and DPA have significant bearing on the way banks manage financial and customer data. InforMeta has helped banks to transparently and efficiently demonstrate data lineage, integrate data across multiple systemsand develop effective data controls.
- Single Customer View
We have assisted banks in the development of golden customer source to be able to identify each customer uniquely and track their product holdings and dealings across the entire bank in a holistic manner. Not only has our work contributed to FATCA, FSCS compliance, it has also helped banks provide more enhanced services to their customers.
We have extensively worked on bank integration through IT target state definition, integration of important data sets like accounts, transactions, statements, and fraud data. We have delivered cost savings and efficiencies through application rationalisation, and centralised business intelligence capabilities.
- Finance Data Migration
We have developed the migration Strategy for Finance, Risk and Treasury transformation programmes to enable simplified and effective management, regulatory and statutory reporting catering to multiple legal entities within a large banking group
- Sales MI and Customer Behaviour Analysis
We contributed to the design and development of a highly optimised data warehouse, multi-dimensional cubes, and BI dashboardsone of the large credit card companies in the world. The business intelligence platform supported merchant acquisition, customer adoption and card usage trend analysis, and helping growth of their credit card business in the EMEA region.
Some of the top overarching and diverse trends in Insurance business at the moment are digital and social media revolution, global economic recovery, ageing population, interventionist regulation, and impact of climate change. We are helping our clients navigate through these developments using the most pragmatic, and productive approach.
- Solvency II –
Our deep knowledge of risk and our experience within the insurance domain mean that we understand critical issues facing insurers in implementing Solvency II. We have been involved in multiple Solvency II implementations,
- Assembly of data dictionary for data used in internal model containing data lineage, ownership, and hand-off points
- Design of actuarial data warehouse to store model runs to perform analysis and FSA reporting in order to assess risk profile, risk appetite, and make efficient use of their capital
- Implementation of asset data management solution
- IT Transformation
We have helped automate and simplify complex processes at large insurers transforming the core applications for underwriting, policy administration, and claims.
- BI Strategy and Vendor Selection
We have developed BI strategy for large multinational home insurance and repair service provider which included current state analysis, benefit realisation plan, operating model changes, and vendor selection to support the BI roadmap cutting edge
Wealth management clients have a number of concerns common to rest of the financial industry. However, they have their set of unique challenges – regulatory and client pressures for fiduciary and product-independent service, regulation of the financial advisor/planner designation, and investors’ demands for more transparency over the investment selection and management process. We have worked with pure play wealth management firms as well as subsidiaries of large financial firms to provide technology solutions to address critical pain points.
- Transformational BI Programme
We managed multi-million pound transformational BI Programme at a wealth management firm helping them navigate out of ‘cottage industry’ of manually produced, disparate reporting into enterprise wide consolidated platform for management reporting using well-defined KPIs, visually rich dashboards and self-service capability.
- IT Automation
At a large financial organisation, we have architected solutions to allow wealth management function to reuse existing CRM, customer management, and data warehouse technologies thereby leading to greater efficiencies and integration within the organisation.
- CASS and Data Review
We have reviewed regulations such as CASS and RDR in-depth as a part of our advisory work. We have undertaken review of data security, and calculations implemented as a part of client asset segregation process. As a part of the audit, we uncovered some structural issues with the process. We provided recommendations to the client, which were promptly implemented by the client, thereby ensuring compliance before review with the finance regulator.
- Data Governance
InforMeta has undertaken fundamental changes involving people and process, to implement robust data governance function within the organisation. This involved clear segregation of reporting into operational, management, and regulatory, defining clear accountability and responsibility for each report, and set up processes to manage changes to the reports.
We have also documented and implemented data standards and guidelines for core functions like HR, Finance, and Procurement.