When archaeology meets data science

By Philip Dutton & Philip Miller
on Mar 28, 2022

In February, news broke of a data leak at Credit Suisse. Known as Suisse secrets, the breach related to more than US$100 billion held by 30,000 clients, some of whose records stretched as far back as the 1940s.

Of course, you can do nothing to change the past, and for problems that happened decades ago, you’re unlikely to be fined. But what can organizations like Credit Suisse do to demonstrate to the world that they’ve learnt from their mistakes and won’t make them again?

The reason for this is that once trust is lost, it’s very hard to regain. After all, reputational costs can often far outweigh any financial penalties slapped down by regulators – although the threat of either is enough to keep chief data officers awake at night.

The problem for bankers and financiers – and indeed anyone who deals in data, so pretty much the whole corporate world and large swathes of the public sector – is that data complexity is on an inexorable upward journey.

Complexity: the biggest challenge for CDOs

Dealing with complexity is unquestionably the biggest data challenge for CDOs and their colleagues; the data landscape has become messy, badly designed and bafflingly interconnected. As we move systems into the cloud and reflect on the onward march of technology, it’s clear that a new approach to data and metadata management is needed. And this is before we explore the huge raft of data-related regulations that have emerged in recent years.

All of which explains the impetus behind Solidatus, a powerful tool for clever data management, visualization, and discovery.

With the tool recognised as one of the most influential financial technology firms of 2022 by the Financial Technologist, this is the intro to an article we were invited to write for that publication, which is published in full today (PDF).

Described as “paving the way for exceptional industry innovation, and at the fore of exciting change” by the magazine’s panel of experts, we were acknowledged for the work we’re doing “to set new industry standards through [our] authentic culture, drive for brilliance and transformational technology”.

Full article in the Financial Technologist

In the full article (PDF), we go on to ask how and why our data lineage and data management solution is equipping organizations to review their systems across the past and future, touching on:

  • what Solidatus is
  • what makes it different and how to quantify its benefits
  • an archaeological analogy that will help you understand its fundamental powers.

We end by asking how complex your systems will be in another few years and whether it’s time to re-evaluate how you manage your data.

To read the article in full, you can visit this site (PDF).

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Topics: Data Lineage, Data Governance, Metadata Management, Data Management

Author: Philip Dutton & Philip Miller

Philip Dutton and Philip Miller are co-Founders and co-CEOs of Solidatus. Philip Dutton, with over 20 years’ experience, has expertise managing global transformational change projects within the Financial Services sector. Philip is a thought leader in shifting the data management paradigm towards sustainability and is passionate about revolutionising the data economy and helping companies become proactive instead of reactive when it comes to the management of their data. Philip Miller, Senior Architect, Analyst and Engineer, has over 20 years’ experience within Financial Services specialising in high performance computing, complex event processing and system integration. He is an acknowledged expert in real-time regulatory reporting.