Digitalization: The Solution to Latin America's Banking Pressure
15. 05. 2023
ABC completed a Data Management project with PrivatBank of Ukraine, the largest bank in the country.
PrivatBank aimed to replace its legacy Data Warehouse (DWH), which hindered its growth and business development. Hence, the bank engaged ABC to create a Data & AI Strategy that would align the new Data Platform implementation with the bank's vision, business strategy, and goals while establishing robust practices in Data Governance, Data Architecture, and AI/ML.
During the project, the ABC team ensured the formalization and launching of critical processes and instruments in the Data Governance and Data Quality areas within the Bank, identification and labeling of the relevant roles and obligations, developing the package of the required regulatory legal documents (policies, standards, controlling procedures, methodologies, etc.), to ensure the complete integrity of the DG domain.
ABC defined targets and scope of work for the new Data Platform, Data Governance, Data Architecture implementation, and AI/ML development. All milestones were agreed upon with the business to reflect their needs and appetites. Also, the team of consultants created a Data and AI/ML Strategy as a holistic document that covers all relevant areas of Data Management to ensure the successful completion of the new Data Platform implementation project:
With the Data & AI Strategy with an implementation roadmap, PrivatBank Ukraine is now better equipped to leverage data-driven insights and make informed business decisions. ABC's expertise and close collaboration have laid the foundation for a successful digital transformation, setting PrivatBank on the path to becoming a leading innovator in the Ukrainian banking sector.
As the Russian aggression in Ukraine continues, the global community needs to stand in solidarity with the people of Ukraine and support their pursuit of peace, stability, and sovereignty. The ongoing war has taken a significant toll on the lives of Ukrainian citizens, and the international community must provide humanitarian aid, financial assistance, and diplomatic support during these challenging times.
At ABC, we firmly support Ukraine and its people during this challenging time. Our work in the country aims to empower businesses through digital transformation and contribute to Ukraine’s economic growth and resilience. By partnering with local institutions, such as PrivatBank, we strive to build a stronger, more sustainable future for the nation in the face of adversity.
Adastra Group is committed to supporting Ukraine through financial donations, collecting medical supplies and protective equipment for defenders and citizens of Ukraine with the Post Bellum team, and supporting Ukrainian women in getting jobs in Adastra. Furthermore, we encourage businesses and individuals worldwide to support Ukraine through donations to humanitarian aid organizations, advocacy for peace and diplomacy, or fostering economic partnerships with Ukrainian companies.
In today's data-driven world, Data Governance has emerged as a critical component for banks to ensure their data assets' accuracy, consistency, and security. It encompasses the policies, processes, and practices that define how data is collected, stored, used, and managed within an organization. By implementing a robust Data Governance framework, banks can unlock the true potential of their data, driving better decision-making, improving operational efficiency, and ensuring regulatory compliance.
Moreover, Data Governance is essential for banks to comply with an increasingly stringent regulatory environment. By establishing clear data policies and processes, banks can better manage risk and demonstrate compliance with regulations such as GDPR, BCBS 239, and other data protection and privacy laws. This helps banks avoid hefty fines and reputational damage and builds customer confidence in the institution's commitment to safeguarding sensitive information.
As a part of the Adastra Group, ABC brings a wealth of knowledge and experience in Data Management to assist your company in establishing a robust and effective Data Governance framework. Our team of seasoned professionals has successfully implemented Data Governance projects for numerous clients across various industries, including banking and finance. We understand organizations' intricacies and challenges in managing their data assets and are committed to helping you overcome these hurdles.
At ABC, we tailor our Data Governance solutions to meet your organization's specific needs and goals. Our comprehensive approach encompasses defining data policies, processes, and standards and implementing controls to ensure data quality, security, and compliance.
ABC is the partner you can trust if you're looking to harness the full potential of your data assets and ensure their integrity. Contact us to help you build a robust Data Governance strategy that drives value, mitigates risk, and positions your organization for long-term success in the data-driven business landscape.