Data Services
The key to any successful transaction monitoring implementation lies deep within the data. Understanding client needs, as well as infrastructure constraints and financial industry data structures, is critical – especially for AML, trade surveillance, and fraud prevention practices. Our experience spans across banking and other financial services providers, payment systems, brokerage systems, customer information management solutions, and the variety of data types that are flowing through those systems.
Matrix-IFS delivers high-value business solutions by first assessing end-user needs and current systems architecture. Then, our business intelligence experts apply appropriate information management, performance optimization, design, planning, implementation, and integration practices. Our goal is to enhance each client with smart and friendly user interfaces, effective training, and efficient documentation of their compliance data management.
Services
Data Requirements
Financial services providers across the globe face unique needs, regulations, and compliance requirements that impact their ability to efficiently manage large quantities of complex data from multiple sources. Matrix-IFS specializes in developing agile business intelligence solutions and services, customized to the unique demands of each organization, efficiently and economically.
ETL Design & Development
Extract Transform Load (ETL) is a complex exercise that simply cannot be blindly copied from one implementation to the next. Having developed ETL solutions across a variety of risk and compliance scenarios, Matrix-IFS enables financial institutions to incorporate best practices, recognize exception protocols, and establish a rigorous and robust quality assurance process when setting up ETL to optimize results from any detection system being used.
Data Mapping
Financial crime and compliance solutions are extremely sensitive to data quality issues; therefore, successfully mapping this task can remove a significant risk from the overall compliance program. We have vast experience in mapping financial data structures to the compliance technology solution and can address issues that may influence the solution’s logic or detection performance (false positives).
Data Quality Analysis
Due to the high degree of sensitivity to data issues, performing a successful data mapping from source to target can remove a significant risk from any financial crime and compliance program. We have vast experience in mapping financial data structures to compliance technology solutions, and can address issues that may influence the solution’s logic or detection performance (false positives).
Data Lineage Analysis
Matrix-IFS has experience in delving into financial intuitions’ data sources and tracking down the origin and pathways of data elements pertaining to financial crime and compliance within the data warehouse. By engaging in such analysis, our customers expose underlying issues and concerns that may affect compliance operations, for example, by causing performance issues or producing erroneous results/false positives. Additionally, tracing data lineage is crucial to compliance with CCPA/GDPR regulation and IT audit requirements.
Big Data Design & Development
As financial intuitions seek more effective means to manage data stores related to financial crime and compliance, they can rely on Matrix-IFS’ track record to architect big data solutions in this domain. Our experts can deliver the components needed to implement the program successfully within the organization and develop custom tools, applications, and enhancements to meet the organization’s IT needs.
Data Access Strategy & Security
Financial institutions need to store a multitude of data elements for the purpose of financial crime prevention and compliance. In particular, GDPR and similar regulations pose unique challenges in securing compliance technology solutions and catering for privacy requirements. Matrix-IFS can help protect those data stores by advising, planning, and designing well-architected and secure interfaces, reviewing the institution’s security strategy for gaps, and providing cost-effective solutions where needed.
Cloud Services
We have extensive experience in helping financial institutions operate their financial crime and compliance technology solutions on the cloud. We can leverage private cloud solutions or partner with industry cloud providers such as AWS or Google Cloud, for a public or hybrid cloud solution. We strongly believe that a robust cloud strategy, executed by a reliable and experienced partner can “future proof” the organization’s risk and reduce the cost of financial crime and compliance starting from day one.
