There has been a lot of scandal-driven regulatory change in the last 10 years, this is no less true for the reforms to Interbank Offer Rate (IBOR). Benchmark rigging in the US$350 trillion interest rate markets was the catalyst for a move away from the British Banking Association’s London Interbank Offered Rate (LIBOR) calculation to alternative Risk-Free Rates (RFRs).
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.
Solidatus has four thematic areas where we believe it is critical to understand the flow of data. One of these is transformation and it is this area that has become a source of some debate recently. There is a lot of fashion about transformation currently with a large part of the debate driving the conversation around DevOps. Now, I like DevOps in principle, it is attractive to any software engineer who wants to get value out for a customer quickly with little risk.
A quick look at our website and you’ll see that ‘Data lineage is at the heart of Solidatus’. It’s what we do and we’re experts in it. However, it’s not uncommon for us to speak with businesses who know it’s important but openly admit they aren’t actively managing it, nor fully understand where to begin when it comes to incorporating into their daily processes.