Mid-Market Banking and Data Analytics
Banking Embracing Analytics
- Speed of data delivery does not meet needs.
- No formal process to govern data and its usage.
- Compliance risk using data of unknown lineage.
- Certified data is difficult to find.
- 30% of line of business time is spent on looking for relevant data.
- Reliance on point-to-point solutions are high in cost.
- No enterprise approach to reporting.
- Low confidence in accuracy and quality of data.
- Lack of clear path from data source to data consumer complicates designing for new projects.
This Middle-Market Bank engaged WorldLink in order to Increase Top Line and Productivity while lowering Risk. WorldLink delivered a Technology-Enabled, Data-as-a-Service solution, governed by Enterprise with defined ownership, increased efficiency, flexibility to scale and reduced time-to-market of data availability.
- Centralized, secure and validated repository of business data.
- Supports evolving data governance
- Technical & Business metadata catalog and tool.
- Rationalized and simplified data flows.
- Flexible, secure and scalable hosting environment.
- Appropriate level of sanitization, encryption, and anonymization of data.
- Business users have faster and easier access to data
- Reduced compliance risk
- Client Master enables single view of client across the enterprise
- Automated external client reports on-demand replacing manually generated reports
- Ability to capture all data types (structured, unstructured, semi-structured)
- Device independent availability of standard and adhoc interactive reports and analytics.
- Employ a Center of Expertise framework to drive development and operational best practices of data
- Reconfigure data architecture to make it robust, scalable, and to improve the efficiency of data ingestion, movement, access and consumption
- Include a role based Change Management methodology to accelerate business and IT adoption of new tools and methods
- Engage the business throughout and regularly deliver value by engaging with business leaders to identify information processes that can be automated and to rationalize, consolidate and create new reporting solutions