About the organization:
The bank is a leading global financial organization that has been a trusted name in banking for over 300 years. Operating in several markets worldwide, it offers a broad spectrum of services, from personal banking to complex corporate deals, including escrow services.
Business Opportunity:
The bank’s escrow operations were largely manual, relying on Excel to manage complex deal flows, budgets, and payments. With growing deal volumes and evolving regulations, the bank aimed to streamline operations, enhance accuracy, and scale for complex escrow structures, including multi-party and milestone-based deals. Key priorities included optimizing workflows to reduce turnaround times, strengthening real-time tracking and compliance, and improving service delivery. The goal was to provide a seamless, transparent escrow process for corporate and institutional clients.
DataNimbus Solution:
Recognizing the need to streamline escrow operations and scale for complex deal structures, the bank identified DataNimbus FinHub as the ideal solution to support its transformation. The platform’s flexible workflow configuration allowed the bank to tailor automation to its specific operational processes, significantly reducing turnaround times and enhancing fund management accuracy.
Additionally, DataNimbus FinHub’s real-time reporting, budget tracking, and automated checklists provided the much-needed visibility and compliance framework, ensuring seamless regulatory adherence while optimizing reporting and reconciliation.
One of the most compelling advantages was DataNimbus FinHub’s seamless integration with the bank’s existing infrastructure, eliminating the need for major system overhauls while accelerating time-to-market. This compatibility, combined with scalability and future-ready architecture, aligned perfectly with the bank’s broader technological vision, enabling it to expand its escrow services while delivering a superior, frictionless experience to corporate and institutional clients.
The entire implementation process took less than a month, including core banking integration and training for the bank’s operations team. To ensure seamless user authentication, DataNimbus also integrated with the bank’s Single Sign-on system.
As a large global financial institution with stringent security policies, the bank required product adaptations to meet its security standards. DataNimbus addressed these requirements within weeks, ensuring compliance without delays.
Results and Value Creation:
As the bank begins leveraging DataNimbus FinHub, it is set to achieve significant operational improvements.
- Operational Efficiency – Automated workflows are expected to bring in a 40% increase in efficiency by reducing manual effort and minimizing errors.
- Revenue Growth –A more efficient system enables the sales team to onboard complex deals with confidence, driving revenue expansion. The bank’s active deals are forecasted to grow by 18% YoY, while scheduled and ad-hoc transaction volume is expected to increase by 30% YoY.
- Transparency & Control – Real-time reporting and self-service tools enhance visibility, and oversight while reducing turnaround time.
Future Plans:
The bank aims to expand its use of DataNimbus FinHub to support e-commerce use cases, further strengthening its escrow capabilities. As part of Phase 2, the bank is set to introduce enhanced features that will drive broader digital transformation, ensuring greater efficiency, scalability, and innovation in its escrow operations.
