Bank on AI-driven Insights

Summary

A global financial services leader transformed its customer data strategy through Sonata's AI-powered Customer 360 solution, unifying 1.2 billion profiles on Tamr (AWS) with a 10% improvement in data matching accuracy. By leveraging AI-driven insights, the organization enhanced business agility, enabling personalized customer experiences and data-driven decision-making that sets new industry benchmarks.

Client Overview

A global leader in cross-border, cross-currency money movement and payments, the client offers a wide range of services, including domestic and international money transfers, and financial products such as money orders and prepaid cards.

Pressure Points

The organization struggled with siloed customer data, resulting in delayed insights, inefficient processes, and inconsistent customer engagement.

• Lack of integrated realtime customer data for informed decision-making
• Siloed customer data leading to inefficient onboarding and qualification processes
• Challenges in meeting compliance requirements like GDPR and CCPA due to fragmented information
• Delayed and inaccurate insights impacting customer retention, satisfaction, and risk management

Solutions

A scalable and AI/ML-driven Customer 360 solution with a microservices architecture, enabling a single customer view, streamlined processes, and real-time analytics.

• state architecture driven by the right MDM implementation style, data health checks and rapid prototyping
• AI-driven matching techniques, improving data accuracy over traditional methods
• Microservices-based cloud solution for operational and analytical needs
• Collaborative data governance framework for decentralized information management
• Prebuilt models and frameworks reducing development time by 50%

Results that Speak Volumes

• Improved customer retention and satisfaction
• Reduced marketing spending through elimination of duplicate records
• Faster servicing with reduced average handling time
• Enhanced credit, market, and liquidity risk management
• Increased agility, accelerating cross-sell and up-sell opportunities

By the Numbers

• 1.2 billion customer profiles managed on Tamr (AWS)