The research arm of a European Bank tracks ~1,500 companies that are its current or potential clients for signals of business risk. A key indicator of risk is negative news on monitored companies. All negative news had to be delivered to HQ within hours. The bank had been doing it manually but the process was labor-intensive and was not standardized. This led to the search for an automated process to help them surface and deliver negative news on a real-time basis.
The client approached Contify to set-up an automated market intelligence platform which could track all the companies, surface negative news, and notify the account owner on a real-time basis. Contify provided a custom solution to the bank by:
There were two problems that Contify solved:
Contify’s market and competitive intelligence solution enabled the bank’s research team to reduce turnaround time from 48 hours to a few minutes. Using real-time risk alerts, account owners were able to act on the negative news quickly. Within the first month, Contify was able to flag 5 companies that could have increased the bank’s risk exposure.
Reduction in turnaround time for flagging risky accounts