The data landscape within financial institutions is extremely fragmented and consists of a multitude of departmental silos. Banks have complex IT architectures with numerous databases, systems, applications, and external data sources. As the amount of customer information increases, it becomes extremely difficult for these firms to govern, manage, and share their data effectively.
The problem with data silos is that they consist of scattered, outdated, and duplicate records, which causes significant data quality challenges. Without a complete view across all data sets, firms are unable to ensure their data is continuously correct, consistent, complete, and timely. This lack of real-time visibility into data quality quickly leads to increased operational costs, higher risk, and misinformed business decisions.
Now, more than ever, it becomes imperative that financial firms implement an effective, real-time data quality model that provides continuous E2E visibility across the organization.
Once you submit your contacts, we will send you the link to this white paper and occasionally, share other relevant content with you.