Use cases
Misrepresentation, escheatment, risk assessment, Solvency II
Identify and prevent potential risks, improve data quality and strengthen regulatory compliance for informed decision-making.
The need
In a context where the management of inactive accounts and escheated life insurance policies represents a major challenge for our customer, a leading player in the banking and insurance sector, it is imperative to improve the efficiency of controls and guarantee unique and accurate customer identification.
Moreover, detecting fraud and data inconsistencies is crucial to ensuring transparency and regulatory compliance.
Proposed solution
The Tale of Data solution enables the company to uniquely identify its customers:
- Matching of highly similar individuals or companies using a multi-criteria, multi-algorithm deduplication engine.
- Use of our phonetic search algorithm: one letter difference, similar sounds ("au" "eau" "o")
- Determination of a similarity score for fine deduplication
- Avoid punctuation, spaces and unwanted characters in names
- Enrichment with external repositories (business repositories, Open Data, INSEE files, etc.)
- Tale of Data can be used to analyze and detect anomalous or inconsistent acts.
- Fraud detection is performed by an automatic querying system. A list of relevant business criteria is determined beforehand. This list is then integrated into the solution as a repository, enabling our algorithms to identify dissonant behavior, suspicious links or inconsistencies.
Earnings
By choosing Tale of Data, our customer benefits from a number of advantages, including :
- Optimized management of inactive accounts and escheated life insurance policies, thanks to efficient and precise controls.
- Unique and precise identification of customers, avoiding confusion and accounting errors.
- Advanced detection of fraudulent acts and inconsistencies, enhancing transaction security and protecting the interests of our customer and its end clients.
- Improved regulatory compliance thanks to high-quality data and enhanced traceability.
- Optimization of internal processes thanks to a comprehensive, integrated solution, reducing manual effort and the risk of error.
- Increased stakeholder confidence and our customer's reputation in a demanding, regulated environment.
Product Benefits
Integrate
Seamless integration of AI and No-Code technology for effective data refinement.
Collaboration
Shareable
Visualize
Powerful
Quality
Achieve superior data quality faster and at a lower cost, while demonstrating the tangible value of investing in data excellence.