About a-team Marketing Services

A-Team Insight Blogs

Keep Your Data Vendors Close and Your Users Closer, Deutsche Bank EDM Head Says

Subscribe to our newsletter

Success in enterprise data management (EDM) programmes is dependent on education – of internal users, of data vendors and of the EDM team itself. So said Jim McCarthy, EDM programme manager at Deutsche Bank, speaking at FIMA 2007 in London earlier this month.

“It’s a constant for us to ensure we can describe our data, that people understand what we have and how to use it, and that they have tools to easily use it, where possible in a self-service way,” he told delegates. “A lot of the issues we face are due to users having ready access to data but finding out further down the line that there is a vendor or set of attributes that could have better fulfilled their purpose.”

A firm’s relationship with its data vendors should be one of mutual education, he suggested. “We have built up very strong relationships with our data vendors,” McCarthy added. “We meet regularly. We educate them, they educate us. We make sure we are clearly in line with product releases and that we understand the impact of any changes on our users. And we make sure the data metrics we have created are clear to our vendors.” There is also a focus on ensuring these metrics are “pushed through to our users, so people have transparency on how data quality is achieved”, he continued.

McCarthy told the FIMA audience that “maintaining good working relationships with operations is vital”. “We need to understand how our data flows through their systems.” Under the auspices of the bank’s EDM programme – run by a steering committee that prioritises work and co-ordinates the management of larger change programmes while accommodating with the rapid time to market demands of tactical pieces of work – an effort has been undertaken to identify strategic projects within business lines “with a strong reliance on the quality of our data”, he said. “Once we identify a service with a dependency, we use our reporting to track the external and internal performance of our group and vendor groups,” he added, warning: “None of this works unless you can start to show value.”

Subscribe to our newsletter

Related content

WEBINAR

Upcoming Webinar: Raising the Bar on SaaS Based Data Management: Lessons learned from B2C software

Date: 14 November 2023 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes Software-as-a-Service (SaaS) based data management goes hand-in-hand with cloud technology, but is your organisation getting full potential from its SaaS solutions and could lessons learned from business-to-consumer (B2C) software raise the bar? This webinar will review the adoption and...

BLOG

CUSIP Global Services Enhances Products and Services to Improve Market Efficiency and Transparency

CUSIP Global Services (CGS) has implemented a series of product and service enhancements designed to improve the efficiency and transparency of financial markets. Provided at no additional cost to CGS customers, these improvements include an expansion of the standard CUSIP data field, the introduction of a series of counterparty risk reports, and infrastructure improvements to...

EVENT

RegTech Summit New York

Now in its 7th year, the RegTech Summit in New York will bring together the regtech ecosystem to explore how the North American capital markets financial industry can leverage technology to drive innovation, cut costs and support regulatory change.

GUIDE

ESG Handbook 2023

The ESG Handbook 2023 edition is the essential guide to everything you need to know about ESG and how to manage requirements if you work in financial data and technology. Download your free copy to understand: What ESG Covers: The scope and definition of ESG Regulations: The evolution of global regulations, especially in the UK...