Know a good customer profile when you see it?

A visit to the London Retail Fraud 2010 conference this week proved to be very thought provoking, not least the workshop on UK data sharing and the clear dependency the whole idea of shared information has on Master Data Management.

Having considered in previous posts the difficulties of creating an accurate single view of client data across a large company enterprise, I find the thought of creating an accurate client view across the whole FS&I industry a difficult one to reconcile.

From a client point of view I would worry about the integrity of the data, and the potential for mistaken identity to affect legitimate claims.

From a shareholder's perspective, I wonder if the investment made by FS&I companies in schemes like Cue, can be justified on grounds of value and the return on investment.

In my mind, most FS&I companies would get a better return by focusing on their own internal governance and an investment in the latest MDM and data analytics technologies. 

It must be better to know your own customers, and understand what a good customer profile looks like for your own business model at the front end than to rely on others to identify your bad eggs at the claims stage?