The financial services industry has witnessed considerable hype around data science and machine learning in recent years. However, a quick Google search will confirm that there are very few concrete examples of it being put in practice in large institutions and delivering tangible results.
Here at Capco, we strongly believe that data science can add significant value in financial services across multiple functions with high returns on investment. This latest series ‘Applied Data Science in Financial Services’ aims to highlight the common yet painful problems which Capco has solved using advanced analytics techniques.
Our third article focuses on an important but perhaps under-appreciated operational problem: client offboarding. Although it might sound straightforward, it can often be incredibly complex - open trading positions need to be closed and several highly manual processes need to be performed in specific orders. Banks often struggle to allocate scarce resources effectively to deal with this process and to meet their regulatory deadlines. The result? Increased risk and money wasted on expensive external resources.
Download our story of how we helped a large bank overcome just this problem.
Intrigued by our solution? Get in touch with our Data Science & Machine Learning Capability Lead, Riddhi Sen, or our R&D Lead, Jibran Ahmed.