What is it?

SmartConnect, otherwise known as Fuzzy Matching is the process of matching data to avoid duplication. At a time when data regulation, safety and privacy is paramount, maintaining a healthy and well-structured data estate is vital. 

Duplicate records can be a cost for a business, and solving the issue is made challenging by a number of factors:

  • Name and Address data is not structured
  • Operational systems using different data formats and rules
  • Data is usually entered as text
  • Data is sometimes entered by subject (or via a call centre or other 3rd party)
  • Multiple legitimate versions of name and address
  • Easy to deliberately mislead with name and address variances
  • Need to balance between false positives and false negatives

An Intelligent Approach to Matching 

SmartConnect fuzzy matching identifies similarities between values:

  • Similar spelling/sounding
  • Overcome spaces and punctuation
  • Different rules for different fields, and different types of fields
  • Multi-column matching
  • Combining scores from different fields to enhance accuracy
  • Scoring Matrix
  • Understood and maintained by the user community
  • Easy to maintain and extend

SmartConnect has a number of uses, as we see fuzzy matching techniques used on a broader scale.  Some of the uses include, but are not limited to:

  • Master File de-duplication
  • Enhanced matching – minimising Fraud
  • Batch Matching
  • Merging and cleansing of Customer Files
  • Data Parsing
  • Extracting Names and Address data from unstructured sources (e.g. email, office)
  • PEP and Sanctions matching

 

Benefits


  • Deduplication of name and address data
  •  
    Correction of inaccurate records

  • Cleansing of address data

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