CASE STUDY
Unlocking Data Accuracy & Security: Macro Global's Key to The UK Bank's SCV Reporting Success
Strengthening Data Security and Compliance: How Macro Global Aided a UK Bank’s SCV Reporting.
Client Overview:
A leading bank in the UK faced challenges with data quality and security in their FSCS SCV reporting to the PRA, endangering regulatory compliance and data integrity. The bank turned to Macro Global owing to its expertise and exclusive features to address their data quality and security challenges within their Single Customer View (SCV) reporting.
Challenges Faced:
Data Quality Challenges:
- Missing or Incomplete Information
- Data Privacy and Protection
- Data Duplication
- Inaccurate Account Holder Information
Data Security Challenges:
- Inadequate Security Measures
- Data Encryption
Solution Implemented:
Macro Global implemented the following solutions to enhance the data quality and security of the UK bank:
Three-Phased Approach:
- Gap Analysis & Strategy Deployment: Identified data governance needs and improved data standards.
- Implementation: Integrated the bank’s data model with Macro Global’s platforms to enhance data architecture and management.
Data Quality Improvements:
- Automated SCV Report Generation: Enhanced data cleansing and operational readiness.
- Third-Party Integrations: Integrated with databases for robust data verification.
Data Security Measures:
- Azure Key Vault: Secure cloud storage for encryption key management.
- Encryption & Decryption Logic: Ensured data protection during transmission.
Results Obtained:
- Strengthened customer relationships with accurate data.
- Enhanced data accuracy & consistency reducing errors.
- Minimised the risk of breaches and ensured secure data transmission.
- Access to reliable information from trusted sources.
- Automated tasks and reduced manual intervention for faster processes.
- Strengthened compliance with regulatory requirements and deadlines.
Conclusion:
Macro Global’s solutions successfully addressed the UK bank’s challenges, ensuring data accuracy, security, and regulatory compliance and ultimately benefiting customer engagement and decision-making processes.
Do not let data quality & security issues affect your compliance. Download our case study to see how Macro Global helped a leading UK bank achieve SCV reporting success.
