Global Bank Secures Risk and Compliance with Single Data Source
Client:Major Global Investment Bank
- A lack of control over which information overlapped or was up-to-date
- The possibility of serious errors in decision-making and regulatory reporting.
- Design and build a single, trusted data repository using leading-edge data virtualization capability
- Manage integration of core data with thousands of the bank’s business applications.
- High-quality, up-to-date and consistently deployed across the organization to lower decision-making risks and facilitate compliance
- Providing end-users with considerable added value.
A Trusted Information Repository
CSC is designing and building a central data repository for one of the world’s largest investment banks. It is also managing integration of core data with thousands of applications used by the bank in its investment banking operations. As this program continues to deliver, common data will be consistently and efficiently deployed in all divisions.
The bank is using CSC’s data virtualization approach and sees it as leading edge. This approach brings together several CSC partners to provide a coherent and successful strategy, delivering new levels of data support for decision makers. Information is aggregated in the repository and provides a single source of “clean” reference data, enabling client applications and their users to be kept informed in real time as new information becomes available.
CSC is not only meeting the bank’s aggressive implementation timelines, but is helping to find innovative ways to further accelerate them.
A Risk Too Far
The bank had very large information and data flows. Data was collected from different sources and used independently by different parts of the organization. So there was often no clarity as to what information was up-to-date, where overlaps existed, or which information should be best used in key investment decisions.
The bank wanted to reduce its risks of making serious errors and breaching compliance responsibilities. It needed a single, “true” picture of the business, using consistent and up-to-date information. It also wanted to cut inefficiency when different departments generated the same internal data or paid for the same external information sources. Reducing IT costs was also an important factor.
CSC’s solution, derived in record time, was to create a single repository for all data deemed to be of use for multiple applications. This includes information that supports day-to-day operating decisions and reporting. It also includes live data feeds from third-party providers, used for currency trading, real-time portfolio evaluation, derivatives management, and end-of-day market-to-market/value-at-risk compliance calculations. The single repository is replacing hundreds of data sources used across the bank.
CSC worked with the bank to identify key focus areas. It then deployed CSC’s proprietary Catalyst project management methodologies, systems integration and data expertise to build all data repository components and integrate the core data with the bank’s many thousands of separate applications.
CSC was responsible for the data warehouse “build” and related connectivity to data sources, as well as for distribution of this information to client applications. A unique feature of the project has been how CSC applies data virtualization techniques. The repository is more than a big data warehouse. Working with core partners and specially developed tools, CSC’s experts virtualize data to maximize use of the existing infrastructure. This minimizes disruption to ongoing operations and provides cost efficiency.