NRI to provide data governance service for financial institutions with Collibra
Nomura Research Institute (NRI), a provider of consulting services and system solutions, is collaborating with Collibra, a software provider specialising in Data Intelligence, to jointly introduce data governance service for financial institutions.
Using Collibra’s technology, NRI’s new service offers total solutions for financial institutions by providing both business and systems consulting.
As digital transformation continues to revolutionise the global banking industry, financial firms are faced with increasingly large caches of data to process, often more than they can handle with their existing data infrastructure. Many commit significant resources on ineffective data discovery or inefficient processes which result in significant underutilisation of corporate data.
Collibra has a significant track record in solving this issue. Over 400 major institutions around the world have successfully deployed and use Collibra, an enterprise-wide solution that delivers governance, data catalog and privacy capabilities for all Data Citizens. In September this year, the company officially announced that they will collaborate with NRI to bring business and systems consulting to even more financial institutions.
“Most banks are fully embracing digital transformation, and poor data governance has proven to be a side effect of this transformation,” says Ryuichi Matsushita, General Manager, Global Financial Solution Business Department of NRI. “We are excited to be working with Collibra to address this issue among large global financial institutions to keep their digital growth on track and tackle the data governance challenge.”
To address these challenges, NRI and Collibra are helping financial firms to establish robust data governance cross-organisationally across business functions within the enterprise. The process includes establishing a data stewardship code and data management policies, setting up data catalogues, sharing glossaries and measuring data quality regularly.