Regulatory data management roundtable
We were thrilled to host a breakfast event with software partners Experian Data Quality where we shared ideas and insights with regulatory data practitioners. The roundtable expert group discussed the main regulatory challenges such as culture, technology and semantics in financial services organisations.
We established that senior decision makers in financial firms need to start viewing regulatory drivers as an opportunity for a fundamental paradigm shift in how data is managed rather than figuring out the cheapest, quick fix. Moreover, the IT infrastructure, of many financial firms, is ridged and dated making it more difficult to implement necessary changes. Many firms also appear to be struggling to understand what data they have and which regulations this data is subject to.
Data Prototyping and Data Discovery were discussed as two potential solutions to a number of regulatory data management challenges. When paired with Lean Information Management we have found these techniques to rapidly accelerate your regulatory data initiatives.
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