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“Keeping Data Governance Interesting” – Banking Strategies

May 20, 2015

by Avi Kalderon – Data governance – the process by which banks ensure that the data they manage and ultimately include in their financial statements is accurate and trustworthy – has become increasingly critical as financial services institutions face immense regulatory scrutiny to prove the trustworthiness of those financial statements. As the Basel Committee on Banking Supervision and other sources have reported, poor data governance played a significant role in the global financial crisis that began in 2007 as bank Information and Technology (IT) and data systems fell short in managing financial risk.

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