Misrepresentation, escheatment, risk assessment, Solvency II

Identify and prevent potential risks, improve data quality and enhance 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 .

What's more, detecting fraud and data inconsistencies is crucial to ensuring transparency and regulatory compliance.

Proposed solution :

The Tale of Data solution produces unique client identification.

- Matching of highly similar natural persons or legal entities using a multi-criteria, multi-algorithm deduplication engine

- Use of our phonetic search algorithm: one letter apart, similar sounds ("au" "eau" "o")

- Determining a similarity score for fine deduplication

- Avoid punctuation, spaces and unwanted characters in names

- Enrichment with external repositories (trade 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 query 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 customers benefit from a number of advantages, including :

- Optimized management of dormant accounts and escheated life insurance policies thanks to effective, precise controls.

-Unique, 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-customers.

- Improved regulatory compliance thanks to high-quality data and enhanced traceability.

- Optimize internal processes with a complete, integrated solution, reducing manual effort and the risk of errors.

- Increased stakeholder confidence and our customer's reputation in a regulated and demanding environment.

Thanks to Tale of Data, our customer can achieve its objectives in terms of managing inactive accounts, detecting fraud and ensuring regulatory compliance, while improving the efficiency of its operations and boosting customer confidence.