Enquiry Form

Blogs

Nelito's Data Quality Solution

Updated On : June 2016  |  by Amol S. Khanvilkar

Public sector banks today have grown tremendously in terms of territorial reach and are much ahead of their private sector counterparts in terms of reach in semi urban and rural parts of India. In terms of user accounts and transactions PSB's are in an enviable position.

In the coming future, this shall help PSB's to take on oversee newer initiatives and come out with products that will help masses to get the best banking services in the world.

This market positioning though also brings with itself its own set of problems which PSB's have begun to face now. These problems are related to the burgeoning amount of data owing to large no. of customers, their ever-increasing transactions, increasing competition, globalization, partners and frequent mergers/acquisitions which result in their consolidations.

Not only the prices and margins were driven down due to ever increasing competition, but the ever-growing number and scope of regulatory requirements like anti-terrorist, anti-money laundering, risk management and others have increased the burden on administrative, operational and IT resources driving up the total costs.

The need of the hour is that the PSB's must improve the efficiency of operations and take the needed initiatives by improving their marketing & customer relationship management strategies.

The critical factor in achieving both these objectives is to improve Data Governance & Data Stewardship Programs, Enterprise Data Architecture Programs, Meta-Data Programs, Business Intelligence Program which in turn help achieve high quality, efficiently managed data.

Nelito's Data Cleansing solution offers an integrated, enterprise scale, robust platform for Data Stewards/Custodians to perform full breath of data management services including Data Profiling, Standardization, Correction, Enrichment, Transformation, De-duplication, Encryption, Masking and Integrated Exception Management.

Nelito's Data Cleansing platform is proprietary innovative and first-in-industry data cleansing and mining web based enterprise scale solution. Data Cleansing supports seamless data source integration, automatic data extraction, cleansing, match & merge, cluster analytics, archival management from virtually any cluster of enterprise system. It builds its big data information extraction & analysis capability by leveraging Apache's Hadoop.

It adheres to SaaS Level 3 (on a scale of 0 to 3) Maturity where multiple Business Process are hosted on a single instance, deployed on a load-balanced farm of servers, with each Business Process data being kept in isolation.

Benefits of Nelito's Data Cleansing :

Single View of the Customer

  • Removes duplicates and create a single view of the customer which gives an organization the ability it gives to analyse the customer behaviour in order to better target and personalize future customer interaction.
  • It helps organizations to engage with customers through multiple channels, since customers expect those interactions to reflect a consistent understanding of their history and preferences.

Fraud Prevention

  • Validates and matches KYC data with foreign black lists (lists issued by RBI, US/UK etc regulators) and identifies the suspected individuals which results in fraud/money laundering prevention.
  • Help the bank comply with local and international regulations like SEBI, RBI, SEC, FRB, BSA, FinCEN, FATF, FSA, JMLSG, and MiFID.

Business Analytics

  • Create House holding information within the bank which immensely helps bank's marketing programs target people at many levels - as an individual, as head of household or as a member of a given group of people (i.e., club, residence and/or business).
  • Bank can identify behaviour patterns based on age or geography or income or household size.

Operational Excellence

  • Eliminate on manual processes, minimizing risk of error.
  • Reducing costs.
  • Freeing staff from routine data analysis, redeploying into higher-value activities.

Risk Mitigation

  • Greater Financial Control on the data.
  • Standardization of methodologies around the enterprise.
  • Able to set risk thresholds, data access and other controls centrally.
  • Better compliance with regulatory requirements.

Performance

  • Faster Processing– a million transactions data processed in 2.39 minutes (as tested by HP)
  • Intelligent cleansing Engine to detect and report focused violations.

Fast Implementation

  • Enterprise Solution, seamless integration with virtually any Upstream & Downstream Systems
  • Highly flexible and Customizable via Configuration
  • Customer Specific Customization via Configuration for any data structure, business rules and reporting.

Also Read

Leave Comments :

CLIENT SPEAK

  • The Meticulousness of efforts to ensure customer delight by each of the team member during the course of the project is appreciable. - Data Archival Project

    R. Ganesh (Senior Manager)

    Indian Overseas Bank
  • Overall we are happy with the services provided by Nelito. The implementation team is sensitive to our support requirements and does a good job.

    Vinayak Khadye (Chief Digital Officer)

    Finanzmart Services Pvt Ltd
  • We are extremely thankful to the whole team who have devotedly committed and created this excellent database. Much of our time was wasted in data retrieval from i link where we were facing lots of issues.

    You have given us an awesome product which is superior to our Finacle itself in its display capabilities. The great idea of taking pdf/word/excel option is simply superb. Merging the party code and Finacle CIF and account numbers are another feather in the cap.

    N Sampath Kumar (Branch Manager)

    Corporation Bank
  • We have successfully made Nelito's Fincraft Software for NBFC live in early March for LOS,LMS and Sanjiv Khalkho, Arijit Chakraborty with his team have been very instrumental in making this software live . I would like to appreciate on the turnaround time during the go live phase of the team in getting some of our key requirements done and helping our users to use the software for recording and disbursing all the sales from the software.

    In technology side I would like to praise Pramod Navale and Ganesh Khetmalis for in depth knowledge of the product and their technical skills is outstanding. Looking forward for the continued relationship for our next release and whole of 2018.

    Prateek P Katyal (CTO)

    WheelsEMI Pvt. Ltd
  • "We are extremely pleased with the kind of support extended by you and your team for our year end work. Although whole bunch of people worked for making the support seamless from your end, my special thanks to following resources. Anurag, Arpit, Arvind, Pranit, Suraj, Udgran, Nilesh, Leena and Udgrand. Also, thanks to all others who have supported us directly or indirectly at your end."

    Ananda Padebettu (IT Manager)

    The Nav Jeevan Co-op Bank Ltd.
  • "For a Bank of our size, this system suffices and is very cost effective. Almost all of the bank’s activities run on the one system. Nelito constitutes a partner more than a supplier and the relationship includes provision of the bank’s underlying technology as well as its Fincraft range of applications."

    Chairman

    The Nainital Bank Ltd.
  • "The best mix of functionality and technological support and our vision of “Cash Less and Paper Less” work environment for Sonata has come true with our technological partner Nelito. I highly recommend FinCraft Core Microfinance platform and especially integrations with a number of third party services."

    IT Head

    Sonata Finance Pvt. Ltd.
  • CBS

    "We are happy to use FinCraft Data Archival & Retrieval solution from Nelito Systems; it has given huge ROI in terms of saving revenue by retiring legacy applications. We get all desired reports in a timely manner from the solution."

    Assistant General Manager (CBS)

    United Bank of India
  • Custom Application Development testimonial

    "Proactive & professionally supportive, technically skilled team."

    General Manager

    Federal Bank
  • DGM

    "My bank is working with Nelito from the last about 9 Years and the services provided by the company may prolong our association."

    Sikander Gupta | CEO

    The Jammu Central Co-op Bank Ltd.
  • DGM

    "Knowledge and service provided to the bank is beyond expectation. And we would definitely engage and recommend solution to others."

    Rachelle F. Rivas | IT Project Manager (Senior Manager)

    Bank of the Philippine Islands (BPI)
  • DGM

    "As Vendor strict adherence to process & procedures. Risk Mitigates in Place. Flexible to customer requirements."

    Dinesh Negi | VP (Clg)

    DCB Bank Ltd
  • DGM

    "Everything was successfully implemented and tested. The implementation was professionally done in a very efficient and cooperative manner. Migration was very smooth."

    Frithjof Ramb | Vice President

    SBI- Frankfurt, Germany
  • DGM

    Support services provided for Swift is really up to the mark and meets all clients requirement. Kindly keep this ongoing.

    Rudolph Banis | Head - IT CBS and Application Management

    IndusInd Bank
  • DGM

    Excellent

    Navin A Bijur | Manager - IBD

    The Shamrao Vittal Coop Bank Ltd