CUSTOMER DATA INTEGRATION (CDI)
Customer Information is the bedrock on which financial institutions build lasting and profitable relationships with their clients. Customer Data Integration technologies can help to create a single, informative, accurate and timely view of the customer across the enterprise which can be used intelligently to achieve the banks objectives. It involves consolidating customer data from several applications, databases and customer touch-points across disparate lines of business within the enterprise to create a ‘master record' or what is often also referred as ‘golden record' of the customer. CDI solutions enable a more effective and efficient way to carry out business but it also means that businesses face a new set of challenges; both technical - such as identity resolution of an individual customer, synchronization between various systems, information security v/s availability, and non-technical- such as managerial buy-ins, project lifecycle management and other challenges whose resolution is critical to the success of the CDI solution.