Virtusa set up a data factory CoE for the bank for its business across 40+ countries to develop a centralized KYC platform with standard policies, processes, and rules.
Our data demand management process and framework included requirements elicitation from compliance and process leads, prioritization, and coordination with the chief data management office to streamline data definitions.
We defined a holistic data quality framework that contained qualitative rules for each KYC data field along with a link to a KYC-related step and how each step impacts the KYC compliance and operations. Virtusa developed tooling that provided countries with the ability to profile their data and have an early warning on data quality issues, which can hamper solution rollouts. Our data integrity control framework helped set common standards that all countries can adhere to for data readiness.
Virtusa developed a comprehensive playbook enumerating a standardized approach to KYC rollout across all countries. We also set up control room dashboards for senior management to have clarity on the progress of countries towards their data readiness milestones. A dedicated team of business analysts worked together with each country to support data mapping and data quality assessments. By leveraging our technical proficiency, Virtusa built critical data components to bolster the client’s KYC data analytics engine and enable an integrated, single customer view on the target KYC platform.