Data Virtualisation in Financial Services
Many banks are unable to take advantage of the benefits that data bring, either because of legacy systems or a lack of proper data governance processes. Step in data virtualisation. By enabling the hassle-free transfer of data systems from on-premises to the cloud, it will give banks the tools they need for effective, dynamic data management, without compromising on the quality of service they provide to customers.
By embracing data virtualisation, banks can:
- Simplify dataset views into a single dashboard, meaning more accessible data and more efficient decision-making
- Establish a single point of truth, mitigating the risk of inaccurate data
- Implement centralised data governance, security and data lineage policies
- Compete with nimbler FinTechs and challenger banks who have already embraced data virtualisation