Syntrus Achmea Real Estate & Finance – Customer Due Diligence
Syntrus Achmea Real Estate & Finance is an investment management organization focused on real estate and mortgages for institutional investors. Syntrus Achmea manages more than €37 billion in invested capital for more than 70 clients.Case study
Syntrus Achmea Real Estate & Finance (SARE&F) has grown steadily in recent years because of its strategic mortgage and real estate portfolio acquisitions. A challenge with such investments is the data quality of individual customer files. The collection and organization of this customer information were done before SARE&F acquired the files, which means that the quality, completeness, and correctness of customer data within cannot be confirmed with certainty. For this reason, SARE&F is conducting Customer Due Diligence Remediation cycle for all active mortgage dossiers. This is an end-to-end review of all mortgage files to ensure data quality. With more than 70,000 mortgages under management, however, this is a challenge. In many dossiers, especially older ones, source documents lack relevant metadata. Next to that, many papers are only partially searchable, and the presence of specific, necessary documents remains unclear in some files.
Within a period of 6 weeks, 70,000 mortgage files, or 1.5 million documents, were scanned with the goal of finding a BSN number. With an accuracy of 95%, around 700,000 BSN numbers were successfully blurred out. This not only saved SARE&F a year in manual effort and associated costs, but it also provided SARE&F with a scalable model for ensuring the future compliance of legacy data,
72 000 working hours saved
91% increase in accuracy
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