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

Danske Bank Goes Live with Datactics RegMetrics to Validate Customer Data

Subscribe to our newsletter

Danske Bank UK has implemented Datactics’ RegMetrics data quality solution to improve its single view of customers in Northern Ireland. The bank concluded a successful proof of concept last summer, went live with RegMetrics this month, and is looking at additional use cases for the software.

The bank looked at three solutions to enhance its single customer view processes – Datactics RegMetrics, a vendor solution already implemented but not performing well, and in-house software that would need to be built out – before selecting Datactics on the basis of its ease of use, quality of data output and customer service. The initial use of the software will provide greater assurance of compliance with Financial Services Compensation Scheme (FSCS) requirements for accuracy of customer data. The bank also expects to achieve a better customer experience through higher levels of data quality.

Marion Rybnikar, head of data at Danske, says that beyond improving the quality and accuracy of customer data, the bank is considering using RegMetrics on a wider scale to cover other types of data, such as product information and transactional data. She explains: “RegMetrics is fast and easy to use, allowing us to properly cleanse and match our data to one single customer view ahead of submission to the FSCS. On top of this, its usability means our SMEs can develop data quality rules themselves – extending the functionality to multiple regulatory requirements and broader data quality and governance applications – and automatically generate meaningful interactive reports in Tableau, our house reporting tool. It’s the quality and accuracy of these outputs that ensures we can save time, improve our data and enhance the efficiency of our processes.”

Danske hopes to make further improvements to its mortgages and loans products through a collaboration with a data scientist at Queens University, Belfast, who will use the bank’s improved customer data to support innovation. Looking forward, Rybnikar suggests the bank’s UK robotics team could work with Datactics’ DQM workflow interface and FlowDesigner data quality process designer to identify and then fix broken data in the bank’s online portal. The software could also support automation across the bank.

Stuart Harvey, CEO at Datactics, says the company is working with a number of European retail banks on regulations such as FSCS and Section 17, and notes that while many banks are taking a one-off approach to compliance projects, Danske Bank is looking at a more innovative implementation of the company’s solutions. He says: “The bank is creating a central engine that cleans, matches and dedupes data to achieve a single customer view, but it sees this as a repeatable solution and can add value by using the data in upstream analytics.”

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Unlocking value: Harnessing modern data platforms for data integration, advanced investment analytics, visualisation and reporting

Modern data platforms are bringing efficiencies, scalability and powerful new capabilities to institutions and their data pipelines. They are enabling the use of new automation and analytical technologies that are also helping firms to derive more value from their data and reduce costs. Use cases of specific importance to the finance sector, such as data...

BLOG

Discover What’s Top of Mind for Industry Leaders as aiComms Surge and 99% of Firms Plan to Expand their AI Use

By Esteban Lopez, Product Management, Theta Lake. Building on research conducted by Theta Lake since 2018, the seventh edition of this groundbreaking industry report offers valuable insights into how AI, modern unified communication and collaboration (UCC) platforms, and DCGA tools are being used across financial services organizations. As the growth of UCC tools and AI...

EVENT

AI in Capital Markets Summit London

Now in its 3rd year, the AI in Capital Markets Summit returns with a focus on the practicalities of onboarding AI enterprise wide for business value creation. Whilst AI offers huge potential to revolutionise capital markets operations many are struggling to move beyond pilot phase to generate substantial value from AI.

GUIDE

The DORA Implementation Playbook: A Practitioner’s Guide to Demonstrating Resilience Beyond the Deadline

The Digital Operational Resilience Act (DORA) has fundamentally reshaped the European Union’s financial regulatory landscape, with its full application beginning on January 17, 2025. This regulation goes beyond traditional risk management, explicitly acknowledging that digital incidents can threaten the stability of the entire financial system. As the deadline has passed, the focus is now shifting...