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

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.

β€œIt’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. β€œA 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. β€œWe have built up very strong relationships with our data vendors,” McCarthy added. β€œWe 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 β€œpushed through to our users, so people have transparency on how data quality is achieved”, he continued.

McCarthy told the FIMA audience that β€œmaintaining good working relationships with operations is vital”. β€œWe 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 β€œwith a strong reliance on the quality of our data”, he said. β€œOnce 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: β€œNone of this works unless you can start to show value.”

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Unpacking Stablecoin Challenges for Financial Institutions

The stablecoin market is experiencing unprecedented growth, driven by emerging regulatory clarity, technological maturity, and rising global demand for a faster, more secure financial infrastructure. But with opportunity comes complexity, and a host of challenges that financial institutions need to address before they can unlock the promise of a more streamlined financial transaction ecosystem. These...

BLOG

Most City Mega Mergers Test Tech More Than Balance Sheets

By Gus Sekhon, head of product, FINBOURNE Technology. The City loves nothing more than a takeover tale as old as time. A US$2.5tn US asset management behemoth snapping up one of London’s most historic investment houses for Β£10bn sounds like a story of global ambition and deep pockets. The Schroders brand stays, the headquarters remains...

EVENT

Eagle Alpha Alternative Data Conference, Spring, New York, hosted by A-Team Group

Now in its 9th year, the Eagle Alpha Alternative Data Conference managed by A-Team Group, is the premier content forum and networking event for investment firms and hedge funds.

GUIDE

Entity Data Management Handbook – Seventh Edition

Sourcing entity data and ensuring efficient and effective entity data management is a challenge for many financial institutions as volumes of data rise, more regulations require entity data in reporting, and the fight again financial crime is escalated by bad actors using increasingly sophisticated techniques to attack processes and systems. That said, based on best...