REGULATORY DEMAND AND THE BI NEEDS OF BERENBERG
The latest story to find itself added to the growing number of successful implementations of Scalefree’s services, and Data Vault 2.0 as a whole, centers around a sector known for its strict regulatory bodies in addition to high volume of data that demands the utmost in terms of privacy and security.
As the events that unfolded during the various financial crises at the start of the century left governments the world over seeking to impose stricter regulations for the financial sector. Banks within the sector were faced with a new task as they sought to continue operating with expansion in mind while still falling well within defined standards. One such organization, Berenberg, a centuries old private bank operating across oceans and within several major financial sectors, found the demands of governments’ regulatory bodies provided a
challenge in leveraging BI across the organization. And as such, the organization found itself in a unique position in which standard methods of the task left something to be desired when building a fully functioning yet fully auditable collection of data, especially when considering the disparate sources of such data. So, to both meet the expectations of the organization while still abiding by the various regulations put in place by each government within the borders of the bank’s operation, Berenberg turned towards Scalefree.
Tasked with the challenge of building a system in which disparate sources of data, as well as various formats of data, could be accessed, utilized, and audited from a single point in addition to be available to the organization as a whole, Scalefree began working to develop a solution in which the standards of Data Vault 2.0 completely meet those demands while still offering an applicable BI solution.
DATA VAULT 2.0’S CONTRIBUTION TO THE SOLUTION
Setting out to create a two part solution, Scalefree first approached the task by building a controllable dashboard in which users within the system could access and utilize the data collected throughout the organization without the inherent problems found within the previous system, that being a system that relied upon stored data and spreadsheets kept locally within hard drives or local networks. Doing so, Scalefree was able to provide a uniform platform in which the entire organization, regardless of location, could contribute to as well as utilize the collected data in a way that still maintained the needed privacy of involved parties.
No easy task in itself, once the platform’s dashboard was built, the real work began.
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Managed Self-Service BI: Success in Spite of Stringent Regulation | Scalefree 2018
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