Machine learning and the cloud will help Old Mutual create trusted records faster and better serve their customers
Tamr announced today that Old Mutual (LSE: OMU) is weeks away from deploying Tamr’s data mastering platform on AWS. Using Tamr to generate 360-degree customer views marks a major milestone in Old Mutual’s journey to adopt a modern approach to master data management (MDM).
By running Tamr on AWS to clean and curate customer data, Old Mutual, a premium African financial services group that offers financial solutions to retail and corporate customers in 14 countries, will generate golden records that help guide the creation of products to better meet clients’ needs.
As part of the move to a next-generation MDM strategy, Old Mutual will decommission its current, legacy rules-based MDM tool next month and start using Tamr’s data mastering platform, which integrates machine learning with human feedback to break down silos and deliver clean, accurate customer data.
“Understanding who our customers are and what products they use is the cornerstone for better serving them. By using Tamr’s data mastering platform on AWS, we’re able to quickly generate the datasets that form a full picture of our customers. With this knowledge, we’re able to identify additional ways to help them meet their financial goals,” said Johnson Idesoh, Chief Information Officer at Old Mutual.
Old Mutual decided to take a fresh approach to MDM after its rules-based MDM solution failed to scale to its volume and variety of data. Information technology (IT) workers spent more time managing the tool and cleaning data than developing products to better serve Old Mutual customers.
“Accurate data is key to figuring out how to develop services that retain your existing customers and attract new ones. We’re thrilled that Old Mutual will soon be running Tamr on AWS and unlocking the insights that help customers thrive financially. We’ve loved partnering with them and helping them start down the path of using a modern MDM platform,” said Andy Palmer, co-founder and CEO, Tamr.
Old Mutual, an existing AWS customer that will run Tamr in their Amazon Elastic Compute Cloud (Amazon EC2) instance, wanted an MDM platform that compliments AWS’s technology. Tamr offers strong technical integrations with AWS and allows organizations to run Tamr in their AWS instance. Tamr also lets AWS customers feed AWS tools and services like Amazon Redshift and Amazon Simple Storage Service (Amazon S3) with trusted data to fully maximize their benefits as well as power downstream applications with quality data to drive business value.
“By running Tamr on AWS, organizations can quickly cleanse, consolidate, and categorize data from multiple – often siloed – operational systems, making it available to a broad set of analytics engines to drive relevant business outcomes. Like we’ve seen with Old Mutual, this capability is especially important to financial institutions that need trusted customer records to stay innovative and maintain a competitive edge,” said Terrence Naidoo, Sr. Manager Solutions Architecture at AWS.
In addition to Old Mutual, financial institutions like Transamerica and Western Union run Tamr on AWS to generate quality records on key data entities like customers. Tamr holds AWS Machine Learning and Data and Analytics competencies and is listed in AWS Marketplace.