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

Datactics Moves into Iceland with Contract Win at Arion Bank

Subscribe to our newsletter

Datactics has won its first customer in Iceland, Arion Bank, which will use the company’s RegMetrics and Single Customer View data quality solutions to support an enterprise data management programme.

The bank selected Datactics after a competitive vendor selection process that included a technically demanding and tightly specified proof of concept across three departments, each of which depends on high quality data for business operations and regulatory reporting.

Höskuldur Hlynsson, data officer at Arion, says: “The Datactics team impressed us with its commitment to the exercise and the high quality of its tools. The integration with our systems and data sources, and capability to process large datasets, enables us to quickly identify data in breach of quality rules, including the rules of BCBS 239. In addition, Datactics demonstrated that it could match and standardise disparate datasets to support our anti-money laundering (AML) processes. We are also excited about the potential to automate a number of manual tasks, which would deliver efficiencies for our back-office teams.”

While Datactics RegMetrics will provide Arion Bank with support for compliance across BCBS 239, AML and some elements of IFRS9 regulation, the implementation of the company’s Single Customer View will help the bank get a single view of its customers. This can be cross-checked against Iceland’s national registry that includes all individuals who are permanently resident in Iceland and have a unique national identification number, or Kennitala.

Stuart Harvey, Datactics CEO, comments: “The banking sector is highly-regulated and has constant demands on its data. We’re seeing many of our clients in this sector provide us with evolving and developing requirements founded on data quality and remediation. Working with Arion has been a fantastic way to engage with a highly technical and highly capable team.”

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Managing Non-Financial Misconduct Under SMCR

Non-financial misconduct – encompassing behaviours such as bullying, sexual harassment, and discrimination is a key focus of the Senior Managers and Certification Regime (SMCR). The Financial Conduct Authority (FCA) has underscored that such misconduct is not only unethical but also poses significant risks to a firm’s culture and operational integrity. Recognizing the profound impact on...

BLOG

Tracing Data’s Transformation is Key to Compliance and AI Effectiveness: Webinar Preview

Transparency and accuracy are characteristics of data that are equally important for financial institutions’ compliance processes and the rollout of artificial intelligence applications. Without those qualities, regulators will have little trust in the disclosures of firms’ compliance teams and any AI technology will be prone to misleading and potentially damaging outputs. To ensure these two...

EVENT

TradingTech Summit New York

Our TradingTech Briefing in New York is aimed at senior-level decision makers in trading technology, electronic execution, trading architecture and offers a day packed with insight from practitioners and from innovative suppliers happy to share their experiences in dealing with the enterprise challenges facing our marketplace.

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...