Global Banking Data Semantics for HSBC Bank
About This Project
Using best practices drawn from conceptual data modelling, definitions / glossary management and ontological modelling we assisted HSBC to instigate a project to understand, control and rationalise its business data semantics.
Inconsistent use of language creates unnecessary costs and risks for financial firms by creating misunderstandings and misuse of corporate data assets. These issues are often visible in the form of data quality issues, expensive to maintain and unreliable systems interfaces and instances of data misreporting amongst others.
Creating a sustainable programme of work with clear objectives, requirements and deliverables for semantics is no easy task. We were able to break the problem down into intuitive components and opportunities for automation. This has enabled a much clearer understanding of which issues within the firm’s semantics landscape should be prioritised for greater control.
HSBC is one of the world’s largest banking and financial services organisations.
Serving more than 45 million customers through four global businesses.
A network that covers 71 countries and territories worldwide.