The organization sought to replace an unmanageable, Excel-based account repository with a systematised solution that could serve all entities and standardise the capture and use of key data attributes.
To achieve this, the bank implemented MYRIAD, leveraging two core modules.
Solution
The NETWORK module provided a structured, hierarchical repository (Entity > Agent > Account > Sub-Accounts), enabling storage of documentation, metadata and contact information at each level with linked data consistency across the system.
The CONTROL module enforced governance workflows for all data capture and changes.
Results
The Client established mandatory account opening, maintenance, and closure processes across its 400,000-account repository.
MYRIAD became a Tier 1 risk system, acting as the bank’s golden source of truth for account data and, through the FEES module, supporting internal invoice generation and processing.
