Case Study: Leading Multinational Bank achieves 60% higher compliance with Wipro’s IQNxt data quality solution

How a multinational bank took control of its

Leading Multinational Bank, a global Australian bank with over 7 million customers, needed to migrate its Governance, Risk and Compliance platform to a new version while improving weak data quality across multiple applications. The challenge was heightened by a highly customized source system, a fresh target installation with limited customization, and no built-in tool support for handling poor data quality or compliance risk.

Wipro addressed the issue with its Integrated data quality management solution, IQNxt, using AI and ML capabilities to quickly assess, prepare, enrich, and define the migration approach in just one week. The result was a successful GRC migration, a 50% improvement in time and effort for the financial reporting shakedown process, and a 60% increase in compliance in financial reporting; based on this impact, the bank expanded the pilot to other operational risk applications.