Can you realise the business opportunities made possible with more coherent, richer and better quality data?
Traditional banks and financial institutions are competing in an increasingly crowded market with disruptive, agile neo-banks and FinTechs.
To be able to generate compelling and innovative customer propositions, banks must be able to use customer data from across the entire organization – and therefore must break down legacy, product-centric, data siloes.
This brings many advantages (such as a genuine single view of the customer and greater business analytics capability) but the coalescence of business-critical data platforms is technically challenging, not least because of the historic lack of standardisation and governance in the data itself.
Icon Solutions has a long history of helping our customers face into the thorny problem of data architecture and transformation. Our expertise in the data domain – both in technical architecture terms, and from the perspective of data-dependent business problems such as KYC – enables organisation-wide collaborative development of data solutions, which deliver transformative change in a safe, pragmatic manner.
How can Icon work with you?
Creating a long-term IT strategy that delivers the needs of the business, but is also practical and achievable, is a serious challenge - particularly when it is restricted and burdened by intransigent infrastructure.
At Icon Solutions, we help our customers evolve their legacy platforms to support dynamic services fit for the modern banking landscape, by developing strategies to support pragmatic, continual transformation, instead of unending fire-fighting or disruptive “big bang” approaches.
We can expertly advise on architecture and technology transformation using our deep knowledge of banking systems, along with extensive practical experience of modern technical architectures and IT operating models. We understand technology and its utilisation to a great degree, but we are agnostic (and therefore completely transparent) regarding software vendors and technology providers: we can evaluate technology candidacy on a case-by-case basis to provide genuinely unbiased opinions.
We typically work with clients in one of two ways, the former often evolving into the latter:
Would you like to find out how Icon can assist you on your data transformation journey?
Setting the industry standard for KYC
Icon Solutions helped this Tier 1 Bank to improve their in-house controls for anti-money laundering and sanctions compliance and achieve their vision to set the industry standard for KYC.
Leveraging data modelling to accelerate corporate customer onboarding
Icon Solutions helped this Tier 1 bank initiate a major transformation programme to dramatically improve both the staff and customer experience for corporate customer onboarding across Commercial Banking.
Automating the customer due diligence experience
Icon Solutions were approached to assist the bank with the automation of their Customer Due Diligence (CDD) and In-Life Management (ILM) programme.
Let’s take a look at some of the important considerations to keep in mind when evaluating Request to Pay technologies.