Case Study

Customer Lifecycle Management

Multinational bank with presence across Asia, Middle East & Africa faced high turn around time in customer life cycle management due to numerous product silos with low interoperability thus significantly increasing hub operation costs

Existing framework was too complex to enable digitization of key CLM activities such as KYC, self service onboarding channels, off-boarding

Under the bank’s ‘One Customer’ initiative, Optimum executed multi-year, multi-phase transformation project to standardize customer lifecycle management, KYC/due-diligence process across segments and markets

The solution

Problem Area
  • Number of Legacy systems and manual approach to source data, identify errors and exceptions
  • Lack of supervisory dashboards for management review and approvals
  • Attestation and Compliance process is manual, complex and inadequate controls
  • Regulatory risks for non-compliance and lack of audit trails
Services Offered
  • Co-developed user journeys & UX designs with the bank based on human centric design workshops.
  • Developed global web application and mobile app for Financial Markets FO supervisors.
  • Implemented key features such as sales / RM tagging, customer documentation, risk assessment engine, unwrapping of beneficial ownership, PEP, adverse media, names screening, FATCA
  • Micro-service architecture with JBoss Fuse , SPA architecture EmberJS, ReactJS, PHP 5 with MVC framework
  • Oracle policy automation (OPA) for business rules automation, Database as a service (DaaS) using ORACLE RAC

Benefits Realized

UX 2

Customer centric user design workshop and angular reusable custom elements provided consistent UX experience

server speed 1

PHP supports multiple databases, browsers and helped speed up web application performance

improved time 1

Oracle Policy Automation reduced manual activities and improved overall turnaround time

customer life cycle management 1

Unified customer life cycle management enabled bank to reduce risk, manual turnarounds and enhance customer experience