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

National Australia Group’s Campbell Discusses its Recent Master Data Management Project

Subscribe to our newsletter

National Australia Group (NAG) was engaged in a total of 22 data related projects last year, according to the group’s information architect Martin Campbell. Speaking at this month’s FIMA conference in London, Campbell discussed the decision to implement a new master data management system in partnership with software and consulting firm IPL in order to achieve greater consistency across the organisation and these tactically driven projects.

Campbell explained to delegates that his firm has noticed a step change in the approach towards data management over the last few years as a result of the changing regulatory agenda, a management imperative to understand data and the need to get a better handle on data quality. “Our decision to move forward with a enterprise information management project was driven by a desire for greater consistency of approach to data from across the enterprise,” he said.

In order to get business level buy in to this concept, Campbell’s team therefore approached the chief risk officer (CRO) and the chief marketing officer (CMO) to get them directly involved. They also used a framework approach to demonstrate the firm’s current capabilities and the various data related gaps that needed to be filled, with relevant maturity models mapped out. The initial focus was on customer data, he explained, but was not limited to technology, rather people and process issues were included.

“We focused on two key aspects: an enterprise data foundation, and enterprise data and analytics capabilities,” Campbell said.

IPL’s business consulting director Chris Bradley, who was involved in the project from the vendor side, explained that the teams got together to define the goals and principles for the project, including the rationale and potential implications. Rather than opting for a centralised hub, NAG instead decided to adopt a federated approach to the data management framework and Bradley explained that the idea was to put in place “application building blocks” for data management and downstream users.

“This involved the adjustment of data management activities to match NAG’s business activities,” said Bradley.

Campbell added: “It has been a process of cultural change and over the last 18 months much has been achieved but we are far from finished. It’s a multi-year journey.”

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: End-to-End Lineage for Financial Services: The Missing Link for Both Compliance and AI Readiness

The importance of complete robust end-to-end data lineage in financial services and capital markets cannot be overstated. Without the ability to trace and verify data across its lifecycle, many critical workflows – from trade reconciliation to risk management – cannot be executed effectively. At the top of the list is regulatory compliance. Regulators demand a...

BLOG

Data Transparency ‘Crisis’ Hampering Private Markets: Report

Private markets investors are dogged by a “data transparency crisis” that is exposing them to greater risk of compromising their fiduciary integrity and losing their competitive edge, according to a new report. In what the authors call a private markets paradox, the report by Rimes states that investors are beset by a lack of data...

EVENT

AI in Data Management Summit New York City

Following the success of the 15th Data Management Summit NYC, A-Team Group are excited to announce our new event: AI in Data Management Summit NYC!

GUIDE

MiFID II handbook, third edition – How compliant are you?

Six months after Markets in Financial Instruments Directive II (MiFID II) went live, how compliant is your organisation? If you took a tactical approach to cross the compliance line on January 3, 2018, how are you reviewing and renewing systems to take a more strategic approach and what are the business benefits of doing so?...