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Case Study
Major Mortgage Bank Cuts Portfolio Acquisition Costs by 75% Using Astera.
Cut Time Required for Onboarding New Partners By 75%
Cut Manual Power Required for Data Integration By 95%
Background
This customer is a multinational banking and financial services company. It is the second largest bank in the U.S. in deposits, home mortgage servicing, and debit cards.
Use Case
With large volumes of data entering the servicing acquisition workflow, the bank faced many challenges. Data frequently came from multiple sources throughout the process life cycle and needed to be consolidated and reconciled. Data transformation, done in Access databases, required significant development time to integrate new data formats. Long lead times in integrating new data resulted in long lead times in integrating new business partners. Large numbers of Access databases and programs were difficult to track and posed risks related to regulatory compliance and customer data privacy. Validation rules were scattered in many different systems making it difficult to consistently enforce these rules. The bank needed software with interactive data transformation and cleansing functionality that they could use without day-to-day involvement of IT resources.
Enter Astera
The bank was attracted to Astera’s ability to handle bulk amounts of data, as well as its unparalleled breadth of data transformation capabilities.
Astera worked closely with the customer to design a solution using Astera to provide interactive data transformation and cleansing functionalities that the business group could use without day–to–day involvement of IT resources. The solution also used Astera’s Integration Framework APIs for integration with upstream systems, such as third–party servicing management applications.
Profile
This customer is a multinational banking institution.
Industry
Financial Services
Use Case
The bank had data arriving in different file formats and structures from a multitude of business partners, which was slowing down their operations considerably and posing risks related to regulatory compliance and customer data privacy.
Results
With Astera, the bank surpassed all of its goals, including major productivity increases, considerably shorter lead time to integrate new business partners, and improved data quality.
Data quality improvements were achieved using a combination of Astera’s data validation rules and profiling reports. Data profile XML was used to create deficiency workflow tasks for upstream systems that worked with business partners to correct any data issues. Additionally, the validation rules that were once dispersed in various databases were now combined and stored in Astera’s centralized repository.
Finally, integration with upstream servicing management systems was accomplished using the Astera integration framework–a suite of APIs based on Microsoft .NET platform.
Future phases will incorporate new versions of Astera to achieve a tighter integration with other systems, pushing data quality management to the front of the process where business partners can validate data before transferring it. Astera is working with the customer to explore leveraging Astera’s data transformation, validation, and profiling capability to other business areas such as asset acquisition and data integration.
Authors:
Irfan Ahmed
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