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

Data Lineage is One of the Most Opportunistic Solutions for Financial Firms

Subscribe to our newsletter

Data lineage is a hot topic, but just how hot and what should you be doing to ensure you get it right at your organisation? How can you ensure it delivers return on investment and is, indeed, an opportunistic solution?

A recent A-Team Group webinar answered these questions and more, underlining the importance of data lineage for both regulatory compliance and business strategy. It also answered numerous questions from listeners, highlighting industry interest in the topic, and pointed to A-Team’s recently released 2019 Data Lineage Handbook.

Giles Nelson, chief technology officer at MarkLogic, kicked off the conversation explaining how data lineage has developed from being a technical topic to a hot business topic over the past few years. He said: “We see many projects around regulatory reporting, but as data management and analytics have become more strategic to the business, lineage and the ability to trace data has become fundamental to all infrastructure.”

Considering the growing importance of data lineage, an audience poll on implementation progress showed 47% of participants having implemented lineage to the greatest extent possible, 33% significantly, 22% somewhat, a further 22% a little, and 18% not at all. Later polls during the webinar covered the challenges of deploying data lineage, and the operational and business benefits of successful programmes.

The webinar speakers reported pretty good progress at their organisations and in the market as a whole. Ellen Gentile, vice president and data quality manager at Sumitomo Mitsui Bank, said the bank was making great progress and had implemented a data glossary to support lineage. Dan Roberts, director of solutions engineering, UK and Ireland, at MarkLogic, noted firms extracting and storing metadata as a means of allowing users to query data lineage.

While progress is being made, the challenges of data lineage are many, Irina Steenbeek, financial reporting grid business developer at ABN AMRO, described the problems of multiple data silos and complicated app landscapes, while Roberts talked about the need for good data governance across an organisation to support data lineage and the need to centralise data. Steenbeek commented: “When a company realises that dramatic change is required, there are always challenges.”

Cultural challenges are also a problem, but can be managed by getting senior executives onboard and demonstrating the impact of data lineage to users by giving them a visual view of data that couldn’t previously be seen. Data related roles, such as data steward, are also needed, along with awareness across all business areas.

Looking at the need to automate data lineage, Nelson commented: “Automation is vital to data lineage, without it you won’t get far. At scale, manual lineage is impossible. You need to instrument the technology environment to create automated lineage.”

With a successful automated solution in place, the benefits of data lineage can be significant. Gentile concluded: “Data lineage is the most opportunistic thing you can do for your organisation. It is pivotal from a data quality perspective and will certainly provide a return on investment.”

Subscribe to our newsletter

Related content

WEBINAR

Upcoming Webinar: AI in Asset Management: Buy-Side Attitudes toward GenAI and LLMs

Date: 8 October 2024 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes Since ChatGPT exploded onto the scene in late 2022, financial markets participants have been trying to understand the opportunities and risks posed by artificial intelligence and in particular generative AI (GenAI) and large language models (LLMs). While the full...

BLOG

How to Deliver a Successful Data Strategy – And Show Value

Delivering a successful data strategy and proving its value can be challenging for CDOs, but there are approaches that can ease the burden, improve outcomes, measure success, engage employees across the organisation, and raise the profile of the CDO office. Discussing ‘How to deliver a successful data strategy – show me the value!’ during a...

EVENT

TradingTech Summit London

Now in its 14th 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

RegTech Suppliers Guide 2020/2021

Welcome to the second edition of A-Team Group’s RegTech Suppliers Guide, an essential aid for financial institutions sourcing innovative solutions to improve their regulatory response, and a showcase for encumbent and new RegTech vendors with offerings designed to match market demand. Available free of charge and based on an industry-wide survey, the guide provides a...