Client Description

Bank of America Corporation accepts deposits and offers banking, investing, asset management, and other financial and risk-management products and services. The Company has a mortgage lending subsidiary, and an investment banking and securities brokerage subsidiary.

Among the United States’ largest banks by assets (alongside JPMorgan Chase and Citigroup), ubiquitous Bank of America Corporation (BAC) operates one of the country’s most extensive branch networks with some 4,600 locations and 16,000 ATMs. The bank’s core services include consumer and small business banking, corporate banking, credit cards, mortgage lending, and asset management. Its online banking operation counts some 34 million active users and 22 million mobile users. BAC acquired Merrill Lynch in 2009, making it one of the world’s leading wealth managers with more than $2 trillion assets under management and boasting a beefed up trading and international businesses.

Bank of America sells its banking and non-banking financial services and products through four business segments:

  1. Consumer Banking
  2. Global Banking
  3. Global Markets
  4. Global Wealth and Investment Management (GWIM), which operates a pair of primary businesses: Merrill Lynch Global Wealth Management (GWM) and US Trust, Bank of America Private Wealth Management (US Trust).

Despite its name, Bank of America enjoys a global reach. The financial institution operates some 4,600 branches and 16,000 ATMs, across all 50 US states, the District of Columbia, the US Virgin Islands, Puerto Rico, and in more than 35 countries. Its four global regions are the US and Canada; the Asia-Pacific region; Europe; and the Middle East, Africa, Latin America, and the Caribbean.

Bank of America’s retail banking serves some 47 million customers and small businesses in the US, and is within reach of 80% of the US population.

Challenge

Bank of America had a requirement to protect customer data and reduce the exposure of data as much as possible to both internal and external teams.  The requirement was to build a production-sized data warehouse without exposing sensitive data to others for testing of internal and external applications.The data needed to be masked/obfuscated and not fabricated in such a way that all names, street numbers and street names remained valid but not associated to a specific customer.  Data masking is a method of processing data, sanitizing, shuffling production data and creating obfuscated data sets which is then used by other teams to test their major release.

Solution

iOLAP worked with IBM InfoSphere DataStage to automate the data obfuscation of Bank of America’s production data into a QA EDW.

Benefits

The process was able to run on a weekly basis to populate the test warehouse with fresh data.  Prior to this solution the data was refreshed quarterly due to the complexity and length of processing time.

  • Tools: IBM InfoSphere DataStage | Oracle | MicroStrategy | DB2
  • Categories: Analytics, Big Data, Strategy
  • Tags: Financials