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The modern data compliance dilemma: What are the best strategies for leveraging data and automation while managing compliance risk in financial services?  

Sponsored by Hitachi Vantara
Thursday 18 November 2021, 12:30

Compliance risk has always been a key source of concern for FSIs. But the increasingly onerous demands of regulation such as 6AMLD, alongside the data protection requirements of GDPR and the growing sophistication of cyber criminals, have made the risk landscape increasingly complex.

With increased liability for individuals when it comes to protecting data from fraudsters and human error, and consumer awareness of data privacy on the rise, FSIs are now forced to put compliance at the top of their agendas – or face the financial and reputational costs of a breach. But FSIs can only ensure compliance across business areas and geographies if they have complete visibility of their data.

However, many FSIs are battling against siloed and unstructured data locked ageing systems in disparate parts of the business, meaning attempts to make compliance more efficient with automation, metadata and AI often fail at the first hurdle.

To remedy these issues, many organisations are exploring the concept of data fabrics, which can connect different sources of data across IT infrastructure from edge to cloud computing, as well as use AI and advanced metadata to improve data governance and provide proof of compliance to the regulators. This digital roundtable with industry peers will focus on the key challenges and opportunities FSI leaders face as they explore new data management strategies to reduce compliance risk, better leverage the value within data and drive efficiencies.

Topics for discussion

  • How has the compliance risk and data governance landscape changed for FSIs in the past 12 months, and how are organisations preparing for future challenges?

  • How important is establishing a single point of truth for compliance teams working in large financial institutions?

  • What role can metadata play in accelerating compliance and data governance processes?

  • What does the concept of data fabric mean for FSIs, and which infrastructures does it cover?

  • How does a data fabric differ from a data platform and data lakes, and what are the advantages of this approach?

  • What role can metadata play in accelerating compliance and data governance processes?

  • What role can DataOps play in optimising data fabric technology, and which systems are most in need of modernisation?

  • How important is data quality in enabling efficient compliance processes?

12:30 – 12:40   Editor’s Welcome
12:40 – 14:00   Topic Discussion

Brought to you by FStech