Case Study: MF Global
Business Challenge
With professional traders and individual investors increasingly trading online 24/7 in each of the markets they operate, a key part of MF Global’s strategy was to speed up the time it took to acquire new customers. MF Global in the UK needed a client onboarding system for its retail business to enhance its existing process that would allow it to make speedier decisions about new customers, boarding new clients quickly while reducing the cost of acquiring those customers.
The Decision Analytics answer
Tasked with this new challenge, Experian created an integrated client onboarding solution based around its Transact SM application processing and decisioning software tool. Sitting alongside the CIS system, Transact SM draws on Experian’s UK consumer and commercial credit bureau data and so allows MF Global to receive, validate and process online applications from new clients promptly and also apply preset policy rules and customer acquisition strategies to drive appropriate trading decisions.
The Benefits
- Instant account opening decisions
- Automated process available 24/7 reducing costs and manual processes
- More informed decisions and rapid customer service
- Compliance with KYC regulations
- Flexibility and control
The Associate Director of Compliance, Strategic Planning and Business Alignment at MF Global said: “In terms of our usage, Transact SM is highly flexible allowing us to change our policies and parameters in line with Management decisions and Regulatory requirements without the need to revert to a third party to do this for us. Additionally, we have flexibility to enhance the results we hold on file ensuring we highlight aspects of a client profile that are important to our decision making process and enabling us to make more informed decisions about our client profiles.”