80% reduction in Pend Rates when merging customer information master files

The Client

Top 20 US bank

Challenge

• Enterprise Customer Information File (ECIF) to merge multiple customer profiles from different systems and products to a single profile
• Exceptions from automated system increasing -pend rates between 15% and 16 %

Solution

• Analysis of Pend Items to identify issues
• Pend items were categorized and prioritized
• Pend reasons were identified and training/ clarification sessions conducted for the team

Execution

• Live meetings scheduled for knowledge transfer to all stakeholders
• Certification for agents before working on production systems

Value Delivered

• Reduced Pend percentage to 1.85%
• Permanent reduction in (ECIF) errors
• Cost reduction as effort to reconcile declined significantly