Automated Corporate ID Data Validation Process for a Global Financial Giant
Overview
A global credit card service company operating in 140+ countries with an annual revenue exceeding 15.4 Billion USD faced financial statement inaccuracies due to improper account hierarchies. Managing hierarchies became challenging amid spin-offs, mergers, and acquisitions, leading to missing transactions and potential data breaches, causing financial losses.
They wanted to:
- Identify CID validation parameters.
- Collect spending activity data from client internal systems.
- Formulate rules for CID status and client name identification.
- Develop a Python script for automation.
- Test results
Solution
The data validation process comprises four stages:
- Data Source: Collect data from the SEC website, internal repositories, and previously extracted CID data.
- Data Processing & Rules Application: Clean and process data, apply validation rules to individual CID records.
- Data Generation: Generate CID status (“Active,” “Sunset,” or “Cancelled”), organization name, confidence score (0-100), and rationales.
- Final Output: Format data, generate Excel sheets for analyst review.
Impacts
Automation significantly reduced man-hours, validating data for 60% of major customers, contributing to a more efficient department and positively impacting the client’s annual revenue.
