CUSTOMER STORY
Regional North American bank sets the gold standard for data quality and data governance with Precisely
Top 100 regional bank
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in total assets
$
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B
company is founded
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Overview
One of the top 100 regional banks in the United States, with $15b in assets under holding, the company relies heavily on data quality and governance solutions to ensure it consistently provides world-class service to its customers.
For years, the bank focused much of its governance efforts around building out its data warehouse, creating a single repository for data across multiple sources and functional areas.
But that changed in 2021, when their Chief Data Governance and Privacy Officer joined the team. Todd decided to flip the script – rather than focusing on the data they had at the bank, he wanted the team to focus on the data they needed.
INDUSTRY Financial Services
RESULTS
- Catalogued data types and lineage by functional area
- Reduced mailing bounce backs
- Built in-depth set of data quality and governance metrics, exceeding initial expectations
- Reduced costs and expenses associated with customer contact information
SOLUTIONS
Data quality
Data governance
Data catalog
Strategic services
Professional services
“Precisely provides the broadest breadth and the greatest depth of capabilities than pretty much any other vendor. My experience with Precisely Professional and Strategic Services has been top notch. I have purchased much more expensive software from much larger vendors, especially with working for Fortune 200 companies, and I have not had the level of service that I’ve had from Precisely.”
Chief Data Governance & Privacy Officer
Solution
The bank combined software and services from Precisely to enable their data to be collected, managed, and communicated.
The combined solutions gave them visibility into all data products simultaneously, and the source of all data points.
The ability to see the source information meant that the bank could then catalog the data in a way that clearly identified the most critical data in need of attention.
Says their CDO, “We can tell you what the data that is populating all those data products looks like. Is it a gold level? Is it silver or bronze? Is it aluminum foil.”
Precisely provides the broadest breadth and the greatest depth of capabilities than pretty much any other vendor.
Chief Data Governance and Privacy Officer
Results
In a short time frame, the bank has already been able to monetarily quantify the benefits of a more holistic view of the data and its sourcing.
“We’ve already found circumstances where zip codes have been truncated, so mailings aren’t going out where we have incorrect email addresses or phone numbers. The reduction in bounce backs is incredibly impactful in terms of dollars and cents,” said their CDO.
“Reduction in bounce backs is incredibly important and incredibly impactful in terms or dollars and cents. Data governance from Precisely is absolutely critical to being able to give that visibility into our data products, and we would not have been able to get that functionality without Precisely.”
Chief Data Governance & Privacy Officer
Next steps
So what’s next? The company will continue to:
- catalog even more data products critical to business functions
- develop data working groups across more than six business units to grow data governance adoption
- create new data to drive business value
According to the CDO, the bank’s data governance journey is just beginning.
As data is continuously incorporated into the data governance program, Todd and his team will also focus on the inclusion of more data protection, data privacy, and risk management activities — with the support of their trusted partner, Precisely
Financial services data solutions
Better understand customers and improve experiences, fight financial crimes, reduce compliance risks, and optimize branch performance.
