Data Governance

Improving Business Agility with Effective Compliance

Unlocking the power of compliance to enhance business agility and drive growth in a rapidly evolving market.

 

In an article written for Finance Derivative, our very own Andrea Novara, Engineering Lead | Banking & Payments Business Unit Leader delves deep into computational governance, compliance, and how they can unlock business agility. A summary can be found below:

For years, financial institutions have managed large volumes of digital data for compliance and legal purposes, driven by regulations like DORA and GDPR. However, increasing regulations have made data protection more burdensome and costly. Despite this, these data repositories hold valuable insights that, if utilized effectively, can drive business growth through innovation, faster market reactions, and personalized offerings.

Data management has become a financial burden, stifling creativity, especially with AI applications generating vast amounts of unstructured data. Legacy infrastructures and disparate data repositories have hindered past attempts to unlock data potential, with expensive vendor lock-in preventing data consolidation. This has made significant technology changes unfeasible for most institutions.

Computational governance is transforming this landscape by automating data standards and compliance enforcement across enterprises. It ensures consistency and reliability in data management without requiring infrastructure upgrades. This approach allows financial institutions to redefine data as a product, enabling wider access, greater agility, and responsiveness while maintaining strict compliance standards. By reducing time to market for products and services, computational governance is a game-changer for institutions burdened by complex data issues and regulatory requirements.


Read the full article below!