Understanding Governing Managing Data Pipelines
The Data “Wild West” Facing Financial Services
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The Data “Wild West” Facing Financial Services
Financial services enterprises are struggling to stay on top of data governance amid complex infrastructures, heavy regulations, and line of business teams working independently of IT.
Disconnected legacy systems and pipelines built without IT’s knowledge result in data silos and visibility gaps that increase the risk of fines, reputational damage, and security breaches.
In our survey of financial services data professionals, several interesting trends emerged:
- Modern infrastructure and data decentralization between LOB teams has created a data “wild west. " In fact, 63% say data fragmentation makes it hard to understand, govern, and manage data.
- Business teams are operating outside IT’s field of vision. 96% of respondents say this creates problems and business risk like data breach and using non-compliant data.
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