PAT (Process Automation Technician) was engaged to develop an outcome for T1 Australian Bank ANZ.
01 ANZ Opportunity
Financial advice delivery is complicated and highly scrutinised.
Before PAT, ANZ managed advisers retrospectively used a check-the-checker model, relying on legacy data analytics. This placed ANZ at risk of not detecting errors. PAT provided services in a timely manner, resolving issues in a timely manner.
02 PAT Onboarded
PAT built a smart data capability.
Integrating ingestion (collation), self-service (interrogation) and alerting and visualisation (intelligence and insight).
03 Because of PAT
Insights extracted ensure ANZ manages people and processes in a way that puts their customers first and meets ASIC obligations
- Produced insights are helpful for improving the management of advisor performance and compliance
- ANZ is able to search data as needed to find patterns based on the professional knowledge of managers. This streamlines process and better protects customers.
- Improved ability for teams to understand – and better manage – risks relating to advisors based on data analytics.
- ANZ is now better able to rationalise and index all forms of data from a number of different source types.
- ANZ is now able to turn indicators into live alerts for continuous monitoring of advisors. Early warnings of undesirable events outside ANZ’s risk appetite are enabled.
- Automation of key control testing to provide timely information on control failures through near real-time testing and to expand the control testing across the entire data base.
- ANZ can leverage regardless of technical experience levels. ANZ needs risk professionals to be the key users not database administrators.
- Visualisation of pain points based on the data correlates through the system. The data is the foundation of ANZ’s knowledge.