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CELENT: Oceans of Data - Recognizing the Perils in Corporate Banking Data Transformation

This report highlights the importance of data as an asset in corporate banking and describes some of the common cultural and technical challenges facing data strategy and data monetization initiatives.

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Overview

Data is the fabric of transaction banking. It is woven into every facet of client experience, banking operations, and servicing. For several years banks have been on a journey to create more value from the data they have, but in many cases this has not met expectations. Perhaps it is because data is such a pervasive part of the business that deriving the anticipated step change in value is so elusive. This report seeks to identify the potential challenges in deriving data value for banking organizations.