FinScore, an independent provider of data quality and analytical customer relationship management solutions, announced today that it has been selected by the Banque Cantonale Vaudoise (BCV) in the framework of its strategic initiative for operational excellence.
"BCV has a great number of complex business processes fed by data originated in multiple data sources, each with thousands of specific rules for their correct interpretation. We will implement a data quality management solution that enables us to quickly discover data quality problems, understand the relationship between data and business processes, and efficiently solve the problems," said Frederic Le Hellard, vice-director at BCV. "FinScore's approach has convinced us since it covers in a very systematic way all aspects of technical, statistical and business data quality. This will help us to enhance our operational performance and - most importantly - to enhance the quality of the relationships with our clients."
"Innovative companies do not look at data quality management as a cost factor but rather as an opportunity to enhance their position in the market and with respect to their clients," said Frank Block, Managing Director of FinScore. "New regulations regarding money laundering, data protection, corporate governance, and Basel II put a lot of pressure on banks. Good data quality is essential to fully comply with regulations, make better operational and strategic decisions, reduce operational costs and develop better customer relationship. We are very happy to cooperate with BCV and help leverage the full potential of their data to further strengthen the bank's market position."