Velocity Entity Resolution module performs advanced analytics to disentangle or disambiguate data that can be utilized for monitoring transactions and performing risk analysis. Incorrect data can affect business decisions, resulting in cost escalation, leading to customer dissatisfaction.
Velocity's robust ER process identifies two or multiple instances or descriptions of an entity as one or unique. With the help of our model, financial institutions can reduce the chances of duplication and improve business decisions.
Velocity Entity Resolution: The smartest data solution for financial institutions
The foundation of any financial institution is accurate data that improves efficiency, boosts productivity, and drives business growth. And, a minor mistake can cost a lot to the company.
One of the biggest challenges that financial institutions face is to derive valuable insights and business-oriented from the large volumes of data. Also, with data spread across multiple platforms, it becomes difficult to get a comprehensive single view. And here Velocity’s ER model comes into the picture.
Velocity’s ER model lets you:
Improve data quality that helps to make data-driven decisions.
Avoid duplication of data and provide a single source of truth.
Find risks, detect criminal activity, and reduce the cost of compliance.
The ER process consists of five steps
Cleaning and normalizing data to evaluate potential matches.
Matching records, extracting common features, and creating features for blocking.
Creating candidate pairs based on blocking mechanisms.
Using mathematical procedures to identify a set of pairs based on a matching algorithm.
Generating resolved entities and mapping to uniquely identified individual records.
Why choose Velocity Entity Resolution?
Allows you to scale to the largest possible data and ensures data accuracy.
Less time-consuming and improves the decision-making process.
Deduplicate the data and ensure that it meets the highest accuracy standards.
Reveals high risks and promotes growth opportunities.