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Why holistic data management is crucial

The effective management of a constantly growing volume of business data is an essential requirement for financial institutions today. Those who neglect data management risk significant disruption to business operations. Closing gaps in data controls and capacities is a top priority for financial institutions, especially in light of stricter regulatory requirements and increasing reporting obligations.

Our experts support you with a diverse portfolio of digital solutions to help you cope with increasingly complex data management and the growing need for trustworthy data.

Our globally positioned teams with a deep understanding of sustainable change in data management will support you in the efficient transformation of your organisation. We support you in identifying and analysing areas where the strategic use of trustworthy data leads to timely, data-based insights into new growth and revenue opportunities.

How we support you

By applying a precise data governance model based on a risk-based approach, we help to deploy resources in a targeted manner. Your organisation can use resources more strategically and focus on driving business success. Identifying data with a significant impact on the financial position and ensuring the highest level of confidence in reporting to external parties is central to this.

Our experts support you in all tasks relating to the transformation of the data landscape. They identify strategic growth opportunities and provide valuable insights based on data-driven precision, creating confidence in critical business processes. By implementing effective data governance structures that promote collaboration, data sharing and cultural transformation, data-driven decisions are driven forward.

Our approach builds trust in data used for processes such as strategic planning, customer insights and compliance with international laws and regulations. Risks from incorrect or outdated information are minimised and companies are protected from errors and regulatory breaches - with the aim of eliminating potential sanctions.

In addition, this approach promotes cross-departmental collaboration through data sharing and the elimination of silo thinking. This enables a modern culture of collaboration and data-driven decision-making.

We support financial institutions in the implementation of advanced AI solutions for data governance and data quality. Machine learning, natural language processing (NLP) and generative AI improve data quality, promote well-founded decisions and minimise the risk of errors. AI solutions also open up new options on the way to a more advanced generation of data management solutions. With our digital solution portfolio, consisting of machine learning, NLP and generative AI, companies can recognise and correct errors in data sets, identify patterns and anomalies and examine unstructured data. By improving data quality with the help of AI, companies are able to make more informed decisions and reduce the risk of bias in their analyses.

Data governance is already firmly established on the corporate agenda. However, the design and implementation of effective data governance structures and the meaningful measurement of data quality are a challenge for financial institutions - and a key concern for regulators. Use our leading data governance framework for high-quality data to overcome the complex challenges in all areas of your organisation. Our agile rollout concept with user-orientated change management ensures effective implementation and a vibrant data culture. This is tailored to the individual needs of organisations and implements data governance and data quality standards.

ESG is of significant importance to decision makers in financial institutions worldwide. Identifying relevant ESG data inside and outside the organisation, integrating ESG data into data aggregation processes to create meaningful ESG-related KPIs and applying ESG data to sound data management standards are the areas our experts focus on. With efficient digital solutions, they help you realise new potential.

Compliance with regulatory requirements for data management is currently a focus of the supervisory authorities. Data management capabilities are the subject of on-site inspections, stress tests and regular supervisory processes. Financial institutions must demonstrate that they have interpreted the regulatory requirements in light of their business and risk profile and have an established data management capability under the direction and effective responsibility of senior management. KPMG supports you in conducting regulatory audits and reviews. The first step is to identify and analyse potential weaknesses in compliance with the regulatory requirements relevant to data management. The focus here is on the design and implementation of compliance-relevant aspects. Then, with the help of industry benchmarks, individually tailored measures are derived for the organisation.