DATACTICS LIMITED
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Continuous Data Quality for Tier One Global Bank
Starting with a short paid Proof of Concept, Datactics built and processed the client's data through hundreds of rules, relating to specific data and industry regulations (in this case, BCBS 239). The results are two-fold: first, metrics (aligned to the global DCAM standard) are output to the Chief Data Officer and viewed in third-party visualisation software, Qlik, to which Datactics features built-in connectivity. Second, the solution has been configured to evaluate the state of the underlying data ahead of submission to the national regulatory authority. Any data elements in breach of the rules are returned to the data owner via a ticketing system, enabling data to be remediated and perfected, and levels of quality optimised.
The whole process of checking the 50 million records against 1,700 rules – resulting in 3 billion unique checks – takes approximately three hours.
Company details
- Industry:
- Financial and professional services
The data quality metrics for RegMetrics dashboards have created an open window of data quality for our Tier 1 global bank client, and offer the CDO valuable insights that steer data governance and data remediation actions. Our collaboration is still unfolding; now armed with a database populated with near real-time and historical data quality metrics, our client is now investigating the possibility of using statistical predictive analytics for financial data quality, identifying characteristics that could be predictive indicators of an impending change to data quality. Furthermore, Datactics is exploring the application of machine learning to the data remediation component of its platform, so that when failing records are fixed interactively by a human, the system can learn from these actions and automatically apply them to similar failing records in the future.