BUSINESS LEAD PROJECTS: Financial Services

First Horizon: Decrease Business Costs

Business Need:

• Operation in 46 states; 13,000 employees

• Due diligence on customers as required by Know Your Customer provision of the

• Patriot Act

• Needed an accurate and cost-effective program

• Required management tools to monitor and measure the performance of third party service providers participating in the process

Use Case:

• Automated data collection, quality control, exception handling, and reporting

• Created work items for data entry service provider

• Data entry into KYC data store was made easy

• Ability to experiment with ‘what if’ scenarios and model

Results: SOA Value Delivered

• Reduced personnel costs associated with manual processing by 40%

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