Customer complaint insight for a global bank
Our client, a global bank, saw an increase in customer complaints for its mortgage product suite. It asked us to collect insights from customer social media, web activity and call centre data.
We leveraged our SocialMind tool to monitor relevant social media postings and customised taxonomy models to track customer complaints and understand underlying customer sentiment. SocialMind is a social media listening and analytic app that helps companies learn what customers are saying about them and their competitors.
This insight allowed the client to understand current customer issues with the existing product range and prioritise the most urgent. Our insight has allowed the client to refine and improve its product offering, and establish ongoing alerts for potential issues.
Employee data integration for a growing financial institution
Due to a series of acquisitions the client’s employee data had grown, but each acquisition brought with it data integration issues. As a result they did not have the required data architecture to hold global employee data, nor clear processes or governance to manage the collation of this data.
We worked with the client to create a data dictionary and implementa clear data governance model and structural data model. We also implemented a strategic data cleansing and updating approach.
Helping a financial institution report accurately to the regulator
Under the Markets in Financial Instruments Directive (MiFiD), financial institutions are required to report trade activity on a daily basis to detect potential conduct issues. Our client, a UK financial institution, was concerned about potential issues with their daily reports which would result in non-compliance and potential regulatory action.
We independently re-constructed the client’s transaction reports from source trade data, using our interpretation of what should and should not be reported. We compared our results with the client’s and investigated any differences to identify the root cause and materiality. We then developed an operational visualisation dashboard which enabled the client to view the results of rules applied across their daily trade information to highlight areas where further investigation was required prior to submission.
Our solution allowed the client to provide accurate reporting to the regulator which resulted in no further action.
Responding to rate manipulation allegations for a global bank
Our client was challenged by regulators to analyse its London Interbank Offered Rate (LIBOR) and Euro Interbank Offered Rate (EURIBOR) submissions data, in order to respond to allegations that both benchmarks had been manipulated.
We analysed data over a five year period at an individual, trading desk and bank level, and identified the potential level of questionable activity which may have taken place by its employees. This analysis helped the client define and implement the required remedial action.
Our work enabled the client to be able to focus their review on key risks and threats identified through the course of our work, and to set out their defence which they would present to the regulator.
Deploying BI tools in a global financial services organisation
Our client is a large global financial services organisation who wanted us to determine if their current suite of reporting tools (OBIEE, SAS and Microsoft® Excel®) had appropriate BI capabilities to enable business users to quickly identify and report complex issues to senior executives.
The initial phase of the project identified that their current tool set required multiple hand-offs to a central development team and significant system reconfiguration in adding non-strategic data sources. This was causing substantial delays in responding to major risk problems.
An analysis of industry leading BI tools identified the most appropriate solution which met the requirements gathered in the initial phase, which PwC then helped to deploy to the rest of the organisation.
Assisting a global bank with regulatory reporting
Our client had issues completing its regulatory reporting requirements. Data provided by the risk, finance and treasury functions was inconsistent. These issues adversely impacted their regulatory reporting and financial commitments, and more broadly their risk management and assessment by external credit rating agencies.
Working closely with the relevant teams, we consolidated the results of 14 separate work streams. Our team de-duplicated common data requirements and produced a data dictionary and a logical information model to help streamline data requirements. We then developed a database solution to assist in the ongoing capture of requirements, record lineage and deliver simplified statistics reporting across the entire banking group.
Our solution has facilitated improved data sharing and consistency and established a reference point and mechanism for improving communication between teams - especially across organisational groups and functional boundaries. It has also helped to illustrate functional overlaps between Risk applications and opportunities for data reuse.
Data strategy for a major central bank
Our client was working on a strategic initiative to enhance its approach to data, a new approach to data and analysis and a ‘One Bank’ data architecture. This would address the Bank’s issues of a number of separate data management and processes across the organisation which had led to a lack of Bank-wide data standardisation, data management, data storage, data collection, tools and reporting.
We worked in partnership with the Bank to deliver a comprehensive report on its strategic data capabilities and requirements, based on our analysis of the Bank’s data collection and sourcing needs.
In order to compile the report we conducted a strategic data requirement exercise by engaging with over 100 Bank staff in a space of 10 weeks to collect over 500 unique requirements. We developed the key data themes and data principles that enabled the Bank to design the right architecture and drive the right behaviours towards data.
We also defined the Bank’s logical data architecture which will deliver a consistent and comprehensive solution for all users across the Bank; and developed use cases to test it. Finally, we helped the senior team members with their communication strategy to articulate the vision and requirements of data across the Bank.
