Breaking Down Data Silos for Seamless Financial Journeys

Large financial institutions with multiple lines of business that address a cross section of customer services, need to ensure they comply with two key requirements. First: compliance with investment industry regulation regarding privacy and user consent for sharing of personal data across business lines. Second: ease of access and speed of technological implementation while avoiding friction and enabling innovative digital service discovery and increasing customer retention. Financial service companies need to enable improved customer workflows and minimize touch points and barriers for new service onboarding.

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Yan Yen lives with her husband of two years and her mortgage renewal is looming. Her and her partner have been living together and sharing finances since their marriage two years ago, but the mortgage was hers going into the marriage.

Recently, she’s connected with her lending bank over the phone in order to renew her 5-year fixed mortgage. In doing so, she realizes great difficulty and frustration. When her partner moved in 2 years ago, they decided to open a joint account, and decided to wait for the mortgage renewal to be up to merge finances on the property.

Even though her mortgage and personal banking are done at the same institution, and she’s consented to sharing her data from one to the other, the mortgage specialist isn’t able to correlate her mortgage information to reflect her current situation because the data comes from two disconnected systems.

This means Yan Yen now needs to engage in the long, tedious process of gathering and re-providing all necessary paperwork in order to make the updates. She was also hoping to migrate her home insurance from another institution to her main financial institution, but learns that she would need to connect with a different department and provide the same paperwork once again to do so, so she decides against it.


Yan Yen

Yan Yen needs her data to be standardized and available from one line of business to the other, within her financial institution so she can make the most of her banking experience.

Financial Institutions

As large organizations with a wealth of data, financial institutions struggle with the ability to identify the same customer across different business lines that have privacy and consent requirements. Doing so would allow them to learn and offer more customized, pertinent services.

Banking Associates

Working within a disconnected system means that the institution's financial services’ representatives are having to duplicate and manage paperwork, creating inefficiencies.


By leveraging customer KYC, a trusted digital ecosystem can be enabled wherein customers are empowered with consent and revocation control of their account data between different departments within their financial institution. The financial institution can flexibly leverage bundled software kits into their apps to quickly enable a range of digital services, including the ability to share their personal information with various departments -- eventually even extending to third party innovators.

By connecting disparate data ecosystems (within the walls of the enterprise itself), financial institutions allow clients like Yan Yen to gain the power to select the ‘trusted source’ for her data and share across departments. She can then consent to use her personal banking data to update her mortgage account and share her banking information to get housing insurance set-up with the insurance branch of her financial institution -- all in one seamless flow. She also has the ability to easily revoke data, as her situation evolves.

For the financial institution, this results in less paperwork, more efficient flows and faster time to innovation and collaboration both within the institutions themselves and in the wider ecosystem.

IDENTOS technology to support

The IDENTOS health stack includes:

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Federated Privacy Exchange (FPX)

Zero knowledge access network designed to easily connect a community of users to any number of data and digital service providers

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Digital Wallet

Personal digital wallet that grants users SSO access and management of explicit consent directives.

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Community Navigator

A configurable mobile app designed to enable, protect and connect the digital journey for users.

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ID Store

With the IDENTOS health stack, tap into:

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Digital ecosystems that are quick to launch

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Technical cost savings with a scalable data integration pattern

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Customer loyalty with consented data sharing

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Interoperability across networks

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Conformity surrounding privacy and jurisdictional requirements

Modernize access technology, advance patient connectivity

Book with us to learn about how IDENTOS specializes in helping you solve for current challenges and innovate for the future.