Financial institutions have more data on their customers than any other industry. Yet, this strategic asset is often inaccessible and underutilized due to legacy technologies and silos in your IT environment.
Most bankers know that this is a problem but are not sure where to get started to fix it. We frequently hear bankers say: “We know our data is valuable, but it’s all over the place and we can’t see it or use it effectively”. This leaves financial institutions with several data problems and no solution. Other industries are further ahead in leveraging their data while financial institutions lag behind because of their complicated relationship with legacy technology.
We want to explore the 8 main data problems community institutions face, the reason behind them, and the best way to solve them. Financial institutions need to take control of their data problem because solving it is no longer optional. If the last few years have shown us anything, it’s that the agile use of data is more important than ever.