Source: VTB Bank
VTB Bank has completed the first stage of implementing its new Data Governance management system, which will speed up business analysis processes and the subsequent software development based on it.
The new system will make it possible to classify bank data more effectively and manage it centrally. Analysts, data scientists, IT specialists and other bank employees will be able to check the quality and reliability of corporate data faster.
The bank will be able to speed up customer data segmentation, devise more personalized offers, evolve the partner ecosystem, and speed up the process of bringing new products and services to market. The new system will also reduce the time required to prepare VTB reports for regulatory authorities.
The Data Governance management system includes three data management modules.
The first module is a business glossary, or catalog of business terms, that are common to the entire bank. In the first nine months of the project, more than 3,700 terms were uploaded to the business glossary. Looking to the future, more than 1,500 are planned to be added each year.
The second module is the metadata catalog, data about the data itself. The solution visualizes the data lifecycle: shows where it was created, where it was moved, and what systems it is stored in. Using the catalog, it is now possible to quickly update IT systems and analyze data. The catalog is already connected to 16 source systems and more than 66 thousand tables have been uploaded to it. We plan to increase these numbers in the future.
The third module is the data quality assurance module. It will help VTB specialists get more accurate data for reports and analytics.
Vadim Kulik, Deputy President and Chairman of the Board of VTB Bank, noted: "As part of the implementation of VTB's digital transformation strategy, it was important for us to establish a unified process for working with data. The introduction of a new data management system will speed up not only business processes within the bank, but our customers will also see changes in the quality and speed of services provided."
The project was implemented in cooperation with the company DIS Group. All modules are implemented on the basis of Informatica tools.
"While working with this project, we used the most advanced techniques recommended by international experts in the field of Data Governance." said Pavel Likhnitsky, CEO of DIS Group. "At the same time, the scale of the project and the transformations that are taking place at VTB are unique: data management practices are becoming part of the processes of changing products, business processes, and the bank's IT landscape."