As Singapore and now Malaysia gear up towards their digital banking futures, I wanted to look at the opportunities that digital banks have as they look to avoid the millstones their competition must face. Equally, I wanted to show the challenges and opportunities available to incumbents as they look to create their digital banks or look to evolve their transformation to avoid losing competitive advantage. With close to twenty years' experience in finance, I have seen first-hand the explosion in the numbers of systems used and also the challenges of implementing new systems and updates to existing ones. These problems are the norm not the exception. The good news is that there is a solution, one that offers efficiency of resource, improves transparency and governance.
“Regulators and industry participants are leveraging data more comprehensively than ever, so it’s imperative that they have the necessary modeling tools to analyse it in order to make informed decisions,” Philip Dutton, Co-Founder of Solidatus.
Solidatus is committed to helping shape the future of data engineering, data management and data governance. Data engineering must evolve if it is to reach its full potential, much like other engineering disciplines have. With the exponential growth in data and the systems that hold it, data management is critical to ensuring standards are defined and structures implemented to support the ever-increasing rate of change. Without control and good governance, the already massively complex interconnectivity of systems will cause organisational paralysis without an urgent paradigm shift.
NEW YORK and LONDON - September 26, 2019 - EDM Council, the cross-industry trade association for data management, has partnered with Solidatus, the leading data lineage and business relationship modeling solution, to provide EDM Council members with a DCAM® (Data Management Capability Assessment Model) Knowledge Modeling tool. The models enable chief data officers and their organisations to more effectively manage their data supply chain and conform with regulatory, data privacy and other business process requirements. Consequently, this enables companies to deliver their data management capability road-map while accelerating value delivery from their data assets.
Last month I was invited to present during BrightTalk’s Data Management and Analytics in Financial Services Summit. They asked me to speak about Identity and Access Management and showcase how technology is enabling financial institutions to reduce risk and improve compliance while managing sensitive data.
I was invited to present on the topic “Financial Services in the Cloud” at BrightTalk’s Data Management and Analytics in Financial Services Summit held July 16th to 18th, 2019. I immediately started to reflect on the past decade and how fortunate I've been to be involved in a large number of data rich projects, ones that have required lots of diverse considerations as to how information is handled. These have traditionally always been very manual and time-consuming, inevitably expensive processes. From a technologist’s point of view, anything manual is worrying, prone to error and in the end, make IT look bad.