The Oracle Financial Services Analytical Applications (OFSAA) was installed as a strategic tool to manage Liquidity Risk Management reporting and compliance for our client.The Client mandate was to improve data quality, while simultaneously reducing the total cost of ownership.
To achieve our Client’s desired outcomes, we implemented a strategy that focused on ensuring data quality at all stages of the data lifecycle.
This enabled our Client to capture, analyze and fix the data before it was loaded into the OFSAA target platform.
Our solution to remediate data at the source reduced the overall data remediation time, resources, and corresponding downtime by eliminating the need to repair the data at all stages of its lifecycle.
RESULTS & CLIENT BENEFITS
Once the rules were built and documented, the entire operation of maintaining data source quality was outsourced to an offshore provider.
The process was managed closely by one senior onshore resource to ensure continuous improvement, consistency of approach, and oversight of KPIs.
Our Client realized a greater than 50% improvement in data quality and a 15% reduction in the total cost of ownership.