Tamr Customer 360

Santander Cuts Lending Time in Half by Putting Customer Data Mastering at the Heart of its Digital Transformation

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Key results delivered with Tamr:
Using Tamr’s modern customer data mastering capabilities, the bank now has continually updated and action-ready 360-degree views of its customers.

  • Rolled out a dramatically faster lending processes by cutting credit decision times in half with rollout of new lending system

  • Created complete, up-to-date customer views from 45 data sources and tens of millions of records in under four weeks.

  • Increased reliability of reporting data with unified data feeds for financial, credit risk & regulatory reporting

  • Empowered sales for cross-sell opportunities with holistic view of customers across divisions and products

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“Data mastered by Tamr underpins the entire digital journey - if we didn't have the single customer view, we wouldn't be able to feed information downstream into decision and risk engines"

Jonathan Holman
Head of Digital Transformation, Santander

With more than 14.4 million customers and £22.3 billion in corporate loans, Santander UK was able to cut loan processing time in half by powering a single view of customers from its 45 data sources.

The problem:

No single, trustable view of customers

The data available to, and required by Santander UK for its lending practices had exploded in recent years as a result of organic growth, company acquisitions, and added information required by new regulatory and due-diligence requirements. To capitalize on their wealth of data, the bank embarked on an ambitious digital-transformation plan headlined by a new lending system connecting modern digital processes, data, and SaaS applications in the cloud with APIs.

However, to be successful, the new system required a single view of each corporate and retail customer in order to accurately calculate financial exposure. However, existing customer data was stored in these systems that were not all interoperable. There were thousands of duplicate customer records across different systems (due to acquisitions), and no process in place to clean and maintain the data such that it could be used reliably and quickly for loan decisions.

As a result, lending action was slowed by:

  1. The bank’s inability to reconcile disparate customer data silos to get accurate, 360-degree views of its customers.
  2. The incumbent rules-based approach remediating the customer data was unable to keep up with the scale, complexity, and heterogeneity of the underlying data, creating an obstacle to success.

Tamr’s solution:

Delivering a single view of Santander UK's customers 

The bank turned to human-guided, machine-learning-powered data mastering technology from Tamr. The primary task was customer record reconciliation across four customer databases (corporate, retail, global business, salesforce) and 16+ product systems of the bank.

Santander UK depositing customer records from 45 data sources across these 20+ systems into a data lake. Tamr then uses REST APIs to connect with the relevant data sets and identify potential duplicate records. To keep the project in line, and avoid data drift, the bank utilizes confidence thresholds for the machine learning models. If a model went past the set threshold, an intuitive feedback workflow would start to engage subject matter experts in the bank to correct the data to fine-tune and improve the ongoing performance of the model. The resulting mastered data is returned to the data lake and processed by the credit lending system.

The new Tamr solution:

  • Created complete, up-to-date customer views from 45 data sources and tens of millions of records in under four weeks.
  • Generated a unique Tamr ID for each customer composed of corporate, retail, Salesforce and global business data.
  • Clustered customer views into business-ready segments (e.g., products & regions)
 

Before the bank selected Tamr as its preferred vendor for B2B customer data mastering, the bank’s data scientists spent months on writing and maintaining manual rules for data preparation. 

Today, machine learning does 80% of the data mastering lift and enables data scientists to put the finishing touches on the final 20%. Tamr’s ML algorithms produce higher-quality record matches (90%+) for highly variable datasets, which drastically reduces manual workflows needed to integrate new data sources.

Now, data scientists are freed from spending time on low-level data hygiene, and can focus their energy on helping the bank develop advanced analytics, deliver consistent customer experiences, and take on new digital transformation initiatives--made possible with single, trustworthy views of each customer, including transactions, interactions, and products.

Business Impact

Using Tamr’s modern customer data mastering capabilities, the bank now has continually updated and action-ready 360-degree views of its customers.

  • Cut credit decision times in half with the rollout of the new lending system.
  • Increased the reliability of reporting data with unified data feeds for financial, credit risk, and regulatory reporting.
  • Empowered Sales with cross-sell and up-sell opportunities revealed by a holistic view of customers across divisions and products.

The bottom line:

Today's data challenges
need new solutions

Before adopting Tamr's customer data mastering approach, the bank struggled with slow and laborious lending decisions due to a lack of unified views into their customers, both existing and new. Data was heavily siloed and multiple attempts at reconciling these data silos using traditional master data management systems (manual, rules-based systems) had failed.

Tamr’s machine learning-first approach to consolidating disparate data sources and generating curated, enriched datasets greatly reduced the manual overhead required to generate, manage, and deliver business-ready, 360-degree customer views.

Bad Data is Killing B2B Sales — What You Can Do To Fix It

To find out how Tamr can help you turn 360-degree customer views into more business and revenue, contact one of our experts for a demo.