Case Study

Caribbean Based Commercial Bank Transforms Its FATCA Compliance, Enterprise Content Management and Collections Management

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The bank is one of the largest financial services providers in Guyana, with an asset base of $97 billion Guyanese Dollars as of December 2015. The Bank provides an extensive range of services to its corporate and retail clients. It is a trusted provider of services across savings and investment accounts, personal and commercial loan financing, and trade financing services.
“We wanted to ensure continued growth and expansion. However, operational shortfalls in our FATCA compliance, Enterprise Content Management and Collections Management were key bottlenecks. We wanted to implement a technology that could help us in enhancing efficiency, satisfying customers and achieving business goals.”


The client wanted to streamline its operations for continued growth amidst dynamic market conditions. As part of its growth trajectory, the bank was focused on improving the quality its operations and services delivered. The bank faced challenges in three major processes- compliance to Foreign Account Tax Compliance Act (FATCA), Enterprise Content Management and Collections Management. These were resulting in delayed and erroneous services as well as non-adherence to regulatory compliance. This not only created a hurdle in the bank’s growth, but was also leading to higher operational costs.

Some of the major challenges faced by the bank were-

  • High Turn-Around-Time
  • Difficulty in adherence to regulations
  • Low visibility and control over enterprise content
  • Escalating operational costs
  • Low employee productivity and efficiency
  • No means of identifying customers with multiple Loan / Card accounts
  • High calls per customer

Major Benefits of the Implementation

  • Enhanced compliance with regulatory governance
  • Enhanced document management and anytime-anywhere information access
  • Delivery of premium customer services
  • Unified view of data from different core systems
  • Reduced turnaround time and operational costs