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: Navigating a Complex World: Best Data Practices in Sanctions Screening

As rising geopolitical uncertainty prompts an intensification in the complexity and volume of global economic and financial sanctions, banks and financial institutions are faced with a daunting set of new compliance challenges. The risk of inadvertently engaging with sanctioned securities has never been higher and the penalties for doing so are harsh. Traditional sanctions screening...

BLOG

S&P Global Data via Cloud: Unlocking Real-Time, Scalable Insights with Snowflake and Databricks Delta Sharing

As organisations accelerate their cloud migration strategies to manage growing volumes of structured and unstructured data, demand is rising for secure, real-time, cloud-native access to trusted datasets. Leveraging Snowflake and Databricks Delta Sharing, S&P Global provides a scalable, agile foundation that allows organizations to directly access and query S&P Global and curated third-party datasets without...

EVENT

Buy AND Build: The Future of Capital Markets Technology

Buy AND Build: The Future of Capital Markets Technology London 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

Entity Data Management

Entity data management has historically been a rather overlooked area of the reference data landscape, but with the increase focus on managing risk, the industry is finally taking notice. It is now generally agreed to be critical to every financial institution; although the rewards for investment in entity data management appear to be rather small,...