London, UK, 12 August 2021 – Solidatus, the leading metadata management technology firm, has been chosen by British Business Bank to enhance its data governance and data lineage capabilities. British Business Bank is the UK’s business development bank that helps drive economic growth by making finance markets work better for smaller businesses across the UK. Solidatus’ award-winning data lineage solution will empower the company to visualise and manage all its data from end-to-end.
British Business Bank’s programmes include the Coronavirus Business Interruption Loan Scheme (CIBLS) and the Bounce Back Loan Scheme (BBLS), introduced as temporary emergency measures during the COVID-19 pandemic. Solidatus’ expedited onboarding process allowed British Business Bank to get started using this modern data governance solution almost immediately. Solidatus will make it possible for departments across the Bank to build a more comprehensive understanding of its data to address problems, make more informed decisions and minimise risk.
Stephen Whiteley, Data Director - Data Management Office, British Business Bank, added, “Smaller UK businesses are providing world-leading technology which benefits both them and the UK economy. We’re pleased to be working with Solidatus, whose solution provides us with the flexibility and features we require to perform our data governance functions”.
The events of the last year and a half have highlighted and prioritised a number of data management challenges for organisations across the public sector, especially in risk management for Covid-19-related loans. These challenges have not only been encountered by the British Business Bank, but also by other UK government departments. Solidatus is well placed to play a pivotal role in enabling other public sector organisations to optimise their data governance practices, better understand and resolve the challenges they have encountered, and make better decisions from their data.
Philip Miller, Co-Founder and Co-CEO of Solidatus, said, “The British Business Bank does a fantastic job in supporting UK-based start-ups and SMEs. We are delighted to be working with the Bank’s team to help them connect, visualise and govern their data, giving this growing development bank the tools to start its successful development in the right way – with well managed and curated data”.
“The British Business Bank is at the point in its growth where it has large amounts of data that need to be analysed and understood in order to drive best practice decision-making. We are delighted to be working with its enthusiastic team to help visualise its data challenges and gain real insight from the data”, said Elizabeth Squire, Director of Business Development at Solidatus.
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Solidatus is an innovative data management technology company, empowering organisations to unlock the true business value behind their data. Our lineage-first technology enables organisations to connect and visualise data relationships across any enterprise, simplifying how they identify, access and understand them. Launched in 2017, Solidatus is the chosen data management tool for both the regulators and the regulated. Its clients and investors include top-tier global financial services brands such as Citi and HSBC, healthcare and retail organizations as well as government institutions. Solidatus has offices in the United Kingdom, the United States and Singapore.
For more information, visit www.solidatus.com.
About British Business Bank
The British Business Bank is the UK government’s economic development bank. Established in November 2014, its mission is to drive sustainable growth and prosperity across the UK, and to enable the transition to a net zero economy, by improving access to finance for smaller businesses. Its remit is to design, deliver and efficiently manage UK-wide smaller business access to finance programmes for the UK government.
For more information, visit www.british-business-bank.co.uk.