Data solutions to help unleash your inner digital bank.
Accessing your organisations data doesn't have to rely on internal heavy-lifting, we can help you release your core systems data across your business so you can use it for growth and engagement.
With the availability of modern MDM solutions, you can cleanse, standardise and format your data whilst applying the data governance services across your data that a bank requires. By establishing data access and increased data quality, you will be able to make data-driven decisions via analytics and visualisation.
Core Platform Data Extraction
- Access traditional 'closed' core banking platform data (legacy Pick data).
4impacts robust data extraction and reporting solution can extract all of the high-value data from traditional 'closed core banking platforms'.
Our solution approach assimilates diverse data types from multi-source data channels, including the identification and extraction of core business entities, the formulation of a unified schema model for coherent data organisation, and the creation of a singular, reliable source for the Member (customer) entity.
Operational and APRA Reporting for Banking
- Automate your Operational and APRA reporting requirements.
- Multi-data source consolidation reporting.
Regulatory compliance and operational reporting are critical aspects of banking operations.
The metrics that make up regulatory reports are prescriptive by nature, and the quality of the data produced has legal implications.
Operational reporting, on the other hand, involves the process of collecting, analysing, and presenting data to monitor the bank's performance and ensure it is meeting its constantly evolving objectives, and can include ad hoc reporting where required.
Our Reporting solutions involve a combination of policies, procedures, and technologies to achieve your regulatory and operational goals.
Data Governance for Banking
- Take control of your data asset, by managing its use.
- Create policies and practices to enhance data quality, security, and compliance.
- Develop a business-level ownership model of data categories to facilitate improved data management.
Data governance for banks is a crucial aspect of managing and ensuring the integrity, security, quality, and compliance of the data used and generated by financial institutions. In an increasingly data-driven world, banks must be able to trust their data and protect the privacy of their customers.
Our Data governance services for banks cover issues like data ownership and responsibilities, data security, data compliance, risk management, data catalogues, metadata management, data lineage and data quality control.
Data Management for Banking
- Ensure accessibility and availability of data meets organisational goals and policies.
Master Data Management for Banking
- Centralise the management of key business data entities across your multi-system landscape.
- Ensure consistency of meaning and usage whenever these data items are used or addressed.
- Reduce risk by providing a single source of truth when introducing or modifying key business data.
Implementing a successful MDM strategy in banks requires a combination of people, processes, and technology. It involves collaboration between various stakeholders, such as data stewards, IT, and business users, as well as the adoption of the best-fit MDM software and tools to facilitate master data management tasks.
In addition, investing in the creation of golden customer records can help banking and finance organisations ensure they are both meeting their APRA compliance reporting obligations, by providing accurate, consistent, and timely data to APRA, as well as adding to improved customer experience and more accurate operational reporting.
Data Streaming for Banking
- Unlock your banking platform data.
- Meet data security requirements today and into the future,
- Enable multiple system/source data access
- Format your data to industry standards,
- Enable digital product integration (e.g., Loan Origination)
Data streaming refers to the real-time processing and analysis of data generated from various banking operations and financial transactions. It enables banks to make better and faster decisions, improve customer service, and optimise their processes.Our solution approach leverages the power of applications like Apache Kafka, a popular distributed streaming platform used for building real-time data pipelines and applications. Kafka can process millions of events per second and is widely used in the financial industry.