Overview

In response to the pressing need for efficient data management and governance, a major bank embarked on a comprehensive Master Data Management (MDM) and Data Governance (DGOV) initiative. This project aimed to streamline data processes, ensure regulatory compliance, and create a single, unified view of key data assets.

Business Requirement and Challenges

The bank faced significant challenges in managing its data, including the lack of an existing data governance framework, which led to inconsistent data practices.
Additionally, the bank relied on inefficient manual processes for managing Relationship Managers, product catalogs, service catalogs, and reference data. These manual processes resulted in data inaccuracies and operational inefficiencies.

Our Solution

To address these challenges, we implemented a robust MDM and DGOV solution:

Installed and configured Informatica Axon, Enterprise Data Catalog (EDC), Data Privacy Management (DPM), and Masking solutions to establish a comprehensive data governance framework.

Onboarded various data sources to EDC and DPM to enable data lineage, cataloging, and classification.

Documented and imported data glossaries, processes, policies, and stakeholder information into the governance platform, ensuring comprehensive data management and oversight.

Business Outcome

The implementation of the MDM and DGOV solution resulted in significant improvements:

Established a robust data governance platform that provides consistent and accurate data management.

Created and published comprehensive data glossaries and classifications, enhancing data transparency and usability.

Achieved a single, unified view of products, service catalogs, Relationship Managers, and reference data, leading to improved decision-making and operational efficiency.

This case study highlights the bank's successful transition to a data-driven organization, leveraging advanced MDM and DGOV solutions to achieve better data management, compliance, and operational efficiency.