Data governance transforms finance

ENVISION a closet overflowing with various items, each once deemed indispensable. The challenge of decluttering and determining the fate of these items -- whether to keep, discard, or donate -- is a struggle for many people. Similarly, data governance in banking is like organizing a closet. Bank executives frequently express frustration over scattered data and not knowing its source. In addition, there is the difficulty of ensuring reliability and safeguarding data privacy. This situation underscores the critical importance of robust data governance. To understand why data governance is considered critical for the banking and finance industry, David Irecki, director of Solution Consulting, APJ, Boomi, discussed with The Manila Times the challenges facing financial services organizations as they modernize and how to address these hurdles. Changing times David Irecki started with a sit...