Caribbean Bank aimed to diversify its offerings and enhance sales across the Caribbean, the US, Asia, and the EU. Operating with a legacy core banking system and integrated with various payment and reporting systems, the bank faced challenges due to data being siloed across multiple platforms, including Excel spreadsheets. This led to data breaches and losses, prompting the bank to implement a robust data governance policy with the help of Sprinterra.
The bank struggled with fragmented data from different systems, such as the Core System DB, KYC System, Payment Provider System, and AML System, which led to inconsistent data and duplications. Custom ETL processes made data flows opaque, and the lack of proper documentation further complicated data management. The bank needed a solution to streamline and automate data management transparently while complying with industry regulations.
Sprinterra started from a comprehensive data discovery phase to identify and document key data sources. This phase helped us to establish data ownership and accountability, setting the groundwork for robust data governance. This step included:
Creating a business term glossary for critical data elements, ensuring a common understanding across the organization.
Stewardship and issue management processes to enforce data governance policies consistently across all departments.
Implementation of a sophisticated data governance tool to enable better metadata management and data cataloging, facilitating easier data discovery and usage.
Streamlined and automated data flows by replacing custom ETL processes with robust ETL tools, such as Apache NiFi and Talend, to automate data integration and transformation.
Enhanced data quality and security by integrating with the data governance tool.
Implementation of role-based access controls (RBAC) to secure sensitive information and comply with industry regulations.
Unified data platform integration by integrating Snowflake and Salesforce to improve regulatory compliance and increase operational efficiency.
Enhanced Data Reliability and Security: The data governance overhaul has resulted in more reliable and secure data handling processes.
Streamlined Processes: Clear process tracking and accountability have boosted operational efficiency and increased productivity.
Improved Data Discovery: Centralizing all metadata has simplified data management and accessibility, making it easier to discover and document data assets.
Informed Decision-Making: Efficient data sharing across departments has enabled faster and more informed decision-making.
Simplified Compliance Auditing: Auditing and assessing the bank’s compliance with regulations have become more straightforward.
Our approach streamlined data management processes, significantly reducing the bank’s daily operational and paving the way for more efficient and effective data handling practices.
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