Motivation

Banks often face problems due to a lack of data standardization, transparency issues in data management, and consequently, a lack of clarity in data responsibilities.

The lack of accountability for data and its quality results in the overflow of responsibility and activities into organizational parts that require the data and process it systematically and extensively. In other words, accountability is displaced, and the focus is misplaced.

Why is it important?

Managing data in large and complex systems, such as the system of Banca Intesa Beograd, part of Intesa Sanpaolo group, is of paramount importance in meeting regulatory and business requirements, enhancing operational efficiency, and mitigating the risk associated with inadequate data.

In the case of Banca Intesa Beograd, the primary requirement was of regulatory nature aimed at compliance. However, making informed decisions based on accurate data is actually the greatest benefit of a well-organized system.

The lack of effective data management would result in problems in day-to-day operations, including increased costs, extended timelines, and reduced operational efficiency.

The greatest impact was certainly measurable in segments of the Bank that extensively engaged in data analysis and reporting, as well as in decision-making like Risk management (both Credit, Market and Enterprise), CRM and AML. However, the significance of quality and timely data was no less important for colleagues in direct client interactions in Branches and Call centers. It could be concluded that data management impacted all segments of the business.

The Project

The project initially started in Banca Intesa Beograd, and as the DG Tool was subsequently accepted as a solution of Intesa Sanpaolo’s International Subsidiary Banks Division (ISBD), the tool was additionally customized and rolled-out  in 6 other banks. Project activities had varying durations. The implementation of upgrades in banks itself took about 6 months, while activities related to the customizations of the application depended on the complexity and intricacy of the requirements in every bank.

On the bank’s side, the project team included the Data Office team and the ICT Project Management team, while the GET was in charge of the whole Development and overall Project Management. Additionally, support from banks where the rolle-out of the solution was carried out at that time served as an extended arm of the team. Roll-outs required various levels of complexity, with larger scopes necessitating a more intricate form of project team organization and collaboration.

The main challenge on the project was that the DG tool is essentially an umbrella Group solution comprising several distinct (and customized) rolle-outs so teams encountered different challenges across rolle-outs that are similar, requiring full dedication and concentration to maintain productivity at the highest level while minimizing errors.

When we asked Danijela Popovic, Head of Banca Intesa Beograd Data Office, what she would point out about the cooperation with the GET she said: “Reliability is the first word I would use to describe our collaboration with GET. Communication has always been direct, transparent, clear, and precise, which greatly facilitates the project team in objectively assessing the situation and making decisions about the next steps. Adherence to deadlines, speed, and quality of delivery both in the solution itself and in bug fixing are exemplary.”

Results

The first and fundamental KPI for the tool was to enable establishment and clear definition of ownership and responsibilities. Once this was achieved, the next KPI was an unequivocal, clear, and precise definition of key data, followed logically by the establishment of data quality control measured by Key Quality Indicators (KQIs).

Establishing Data Governance is a lengthy, gradual process that depends on people, processes, and tools. In this process, it is crucial to remain focused on the ultimate goal, which is to enhance the quality and availability of data that are of strategic importance. 

The return on investment period for this kind of project solely depends on the maturity level of the organization in terms of the “data culture” in which it is implemented and we can say that the solution has significantly impacted banks’ daily operations. The solution is now part of everyday activities that used to be completely manual, without easy and quick insight into the Data Owner’s work results. With this solution, the entire process is fully controllable and automated.

When asked about the solution, they mentioned that what they like most is its user-friendliness.

The place of this solution in the overall digital strategy of the bank is clear. As the company matures in the area of Data Governance, with further digitalization and the growing need for a stronger Data-driven culture within the Bank, the need for the solution’s further evolution will continue to arise. Currently, it meets all regulatory requirements and business needs, and as such, it has been adopted as a Group solution for Data Governance, presently implemented in 6 member banks of the ISBD.

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