Reference Data Management in Banking 2016

Reference data has never been as important to financial institutions as it is right now; a combination of regulatory initiatives such as BCBS239, the huge increase in regulatory reporting requirements, and the desire to unlock the commercial value of data mean that the industry is paying this area more attention than ever. Financial institutions are now realizing that in order to be able to rely on their data it needs to be clean, consistent, and well organized, and in a sector rife with legacy programs as a result of mergers and acquisitions this is often easier said than done. Moreover there is no point in data specialists carrying out improvements in this area if they do not support the needs of the business and this has proved challenging in recent years.