In 2021, the focus of financial services will be inclined to enable digital customer journeys as well as to sustain and grow revenue streams. Actively governing data will make managing it more formalized thus making it more available, less complex to understand, and protect the customers' data rights. Three principles and associated formalized dime...
03 January 2021 /people /predictions Artificial Intelligence and Financial Services
The development of Artificial Intelligence and Data Protection domains are largely dependent on the economic and societal needs. While Artificial Intelligence develops better customer services by wrangling trillions of BigData and learning from it, data protection is poised to build trust in people to share data with Organizations. A recent surve...
09 August 2020 /regulation /retail Artificial Intelligence and Financial Services
Accuracy measures the degree to which data represents the real-world entity in this case a person, organization, or Source from where we know it has originated. Measuring data quality is possible if the characteristics of its physical and contextual existence are well understood. These characteristics of data can be translated into data quality rul...
02 August 2020 /regulation /identity Analytics in Banking
As Banks and Insurance firms have already embraced Data Lakes for their Artificial Intelligence and Machine learning capabilities, it is important to look for continuous Return on Investment on the platform. If a Data Lake is not well maintained, it can turn into a swamp while finding usable data can confuse the data consumers. Most challenges can ...
26 July 2020 /sustainable /devops Analytics in Banking
Here are ten steps to defining a data strategy based on a data capability maturity assessment, for a Financial Institution Identify and Simplify Maturity models, and customize the yardstick as well as benchmarks based on local study and future organization strategy Conduct workshop with leaders and grassroots to sensitize the assessment and questi...
19 April 2020 /regulation /retail Data Management 101
Now, with Most of us managing and Governing data from distributed locations and with remote workforce (specially from homes); are we moving away from past apprehensions that Data Governance can happen only when planned & co-located? It's possible to say today that – 1. Data Governance can be change-driven, with bursts of iterative outcomes 2. W...
07 April 2020 /sustainable /covid-19 Data Management and Governance
Now, with most data offices Governing data from distributed locations (especially from homes); are we moving away from past apprehensions that Data Governance can happen only when planned and co-located? It's possible to say - 1. Data Governance can be change-driven, with bursts of iterative outcomes 2. We can in-fact govern data in an agile way ...
04 April 2020 /retail /sustainable Data Management and Governance
Slowly yet steadily, Banks are seeing customers (including ourselves) picking up services that have distinct digital capabilities. The mechanics of customer interaction has rapidly shifted from physical handshakes to virtual yet warm communication over personal & extended channels. However, managing Data Quality of customer data along with Z...
03 April 2020 /sustainable /covid-19 Data Management and Governance
I was just having a casual conversation with one of my friends over the BCBS implementation in his Bank. We were in fact discussing on where Data Governance and Management in the industry is today. What interested me as a part of our conversation is a question “How has a bank to stop itself from failing to meet its BCBS policy timeline”. I can st...
29 October 2016 /regulation
The Prudential Regulation Authority (PRA) has completed reviews of the internal model approval process (IMAP) to assess the quality of data that underpins the validity and integrity of the internal governance model. This review has been performed on over 50 firms in preparation for the introduction of Solvency II2 and a final report has been issue...
15 April 2016 /regulation
Data Management and Governance
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