VTB Bank has implemented its new Data Governance management system to accelerate business analysis processes.
The system will also speed up the ensuing software development process at a later stage. This represents the first stage of implementation for the bank.
The new Data Governance management system will help classify bank data and enable central management.
Bank employees including analysts, data scientists, IT specialists and others will be able to check the quality and reliability of the data faster.
Through speedy customer data segmentation, the bank will be able to create personalised offers and expand its partner ecosystem by bringing new products to the market.
Additionally, the new system will prepare VTB reports for regulatory authorities more quickly.
VTB Bank deputy president and chairman of the board Vadim Kulik said: “The introduction of a new data management system will speed up not only business processes within the bank, but our customers will also see changes in the quality and speed of services provided.”
The Data Governance management system includes a business glossary, a metadata catalog and a data quality assurance module.
The business glossary module is common to the entire bank. Over 3,700 terms have been uploaded within nine months of project commencement, with plans to add 1,500 terms each year.
The metadata catalog is the second module which represents data about the data itself. The catalog shows where data was created, where it was moved, and in what systems it has been stored.
The bank can use the catalog, which is already connected to 16 source systems, to update its IT systems and analyse data. Over 66,000 tables have been uploaded to it.
Lastly, the data quality assurance module will help VTB get accurate data for reports and analytics.
The project has been implemented in collaboration with DIS Group and all modules are implemented on the basis of Informatica tools.