Security through the automated analysis of mass data
The conflicting demands of requests for information from the authorities authorised to make enquiries, internal and external audits, internal bank requirements for customer master data, partly manual data entry and heterogeneous system landscapes result in a high additional effort for operational units, compliance and auditing. Here, the necessity of effort- and cost-efficient control actions to check the data quality is of particular importance.
The automated analysis of mass data (no random sampling) significantly increases the data quality and reduces the costs and efforts of the audit.
The Data Cruncher 24c has already been used successfully many times. This gives you a meaningful benchmark comparison from us.
Various advantages within the framework of control actions and remediation projects of the compliance function as well as in the digital audit approach of the internal audit. By drawing conclusions from KYC data, you can achieve synergy effects, e.g. on the identification of beneficial owners.
Four steps to increase data quality
The use of Data Cruncher 24c starts with the collection of framework and raw data and enables the analysis of detailed results and the derivation of concrete measures to increase data quality.
Collection of framework conditions and raw data
Before using Data Cruncher 24c, we usually conduct a scoping meeting to determine all relevant framework conditions. In this way, the data set to be analysed can be specifically adapted to your needs. Subsequently, we read the data sets into the Data Cruncher 24c.
The analysis focuses on the completeness of the reporting-relevant data in the data set and applies various checks to check the plausibility of the existing data for inconsistencies. A full check is carried out on the previously defined data sets.
Presentation of results
The results of the evaluation are visualised graphically in the tool and prepared for you. In addition, they can be traced in detail via an export function.
Root cause analysis and action plans
Based on our experience with over 100 deployments of the tool, we can provide you with a comprehensive and detailed root cause analysis and benchmark your results. In addition, we support you in designing concrete action plans to increase data quality.
In the Spotlight
The tool-based preparation of data makes it possible to achieve regulatory certainty with optimal time efficiency.
By applying our review logic to your data records subject to reporting under Section 24c KWG, conclusions can be drawn about the quality of the KYC data and possible areas for action can be identified.
Avoidance of fines
Fines of up to €200,000 are imposed for violations of the requirements of § 24c KWG. We prepare your institution optimally with regard to the increased special audits by the supervisory authority
We provide an initial indication for the assessment of the procedure free of charge.
- Initial indication for the assessment of the procedure
- Individual advice
Free of charge
Reporting data analysis
- Tailor-made reporting data analysis
- Price depends on data volume and data complexity
per reported data analysis