About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

A-Team Webinar Discusses Progress in Data Lineage Implementation

Subscribe to our newsletter

The implementation of data lineage by financial institutions is making progress driven by regulations such as BCBS 239, Solvency II and the incoming General Data Protection Regulation (GDPR) that is due to take effect in 2018. It is also delivering early operational and business benefits that are expected to increase significantly as data lineage capability develops.

Progress on data lineage, regulatory drivers, approaches firms are taking to implementation, links between data lineage and governance, and potential benefits were discussed during last week’s A-Team Group webinar, How to Track Data Lineage for Enterprise Data Management. The webinar was moderated by A-Team Group editor Sarah Underwood and joined by Vikram Bellapravalu, metadata product manager at Bloomberg; Koen Van Duyse, a subject matter expert in regulatory compliance at Collibra; and Tom Dalglish, senior integration and data manager at HSBC.

An initial poll of the webinar audience asking how much progress firms have made on data lineage implementation showed 6% of firms making excellent progress with significant data lineage capability in place, 21% making good progress with some capability in place, 28% making some progress with limited capability in place, 20% planning for implementation, and 19% yet to start projects.

Discussing progress, the panel members noted that data lineage implementation is easier in smaller firms with less systems, apps and data than larger firms, and agreed that while definitions of the term differ, a good place to start when considering dynamic data lineage is to understand what the data is, where it came from, how it was derived, and how and why it has been changed over time. With strong data lineage in place, trust in risk assessments is better established and the compliance guidelines set down in BCBS 239 and Solvency II can be followed.

Looking at best practice across multiple complex systems, the webinar participants suggested the need, where possible, to establish an app inventory, identify data sources and create a metadata repository containing a dictionary of golden terms that can be used for data provenance and tracking lineage. The need to marry detailed technical lineage to lineage resulting from business processes was also noted, along with the role of data lineage as a potential first step in developing an effective data governance programme.

While a second poll of the webinar audience showed the majority of firms beginning to gain operational and business benefits from the implementation of data lineage, the webinar speakers agreed that further gains will be made as capability is developed and the challenges of orchestrating complex solutions are overcome.

To find out more about:

  • Approaches to data lineage
  • Ongoing challenges
  • Links to data governance
  • Tools to support lineage
  • Benefits of implementation

Listen to the webinar here.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Navigating a Complex World: Best Data Practices in Sanctions Screening

As rising geopolitical uncertainty prompts an intensification in the complexity and volume of global economic and financial sanctions, banks and financial institutions are faced with a daunting set of new compliance challenges. The risk of inadvertently engaging with sanctioned securities has never been higher and the penalties for doing so are harsh. Traditional sanctions screening...

BLOG

From Batch to Real-Time: LSEG Reinvents AML Screening with World-Check On Demand

As financial institutions accelerate toward real-time payments and digital onboarding, compliance teams face mounting pressure to keep customer screening instant, accurate and demonstrable. In response, the London Stock Exchange Group (LSEG) has introduced World-Check On Demand – a new cloud-based service designed to deliver “real-time risk intelligence” through API integration, allowing institutions to embed sanctions...

EVENT

TEST Event page 1

Now in its 15th year the TradingTech Summit London brings together the European trading technology capital markets industry and examines the latest changes and innovations in trading technology and explores how technology is being deployed to create an edge in sell side and buy side capital markets financial institutions.

GUIDE

Trading Regulations Handbook 2022

Welcome to the third edition of A-Team Group’s Trading Regulations Handbook, a publication designed to help you gain a full understanding of regulations that have an impact on your trading operations, data and technology. The handbook provides details of each regulation and its requirements, as well as ‘at-a-glance’ summaries, regulatory timelines and compliance deadlines, and...