Data Management

Data Lineage

Data Lineage is the ability to accurately track and understand what happens to data as it passes through diverse processes from one end of an organisation to the other, from its origin to reporting. It is a crucial data management task for any organisation as it helps in understanding the relationships between data items across the enterprise and between individual lines of business.

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Data Lineage is the key to understanding the relationships between data items across the enterprise and between individual lines of business. It is the ability to accurately track and understand what happens to data as it passes through diverse processes from one end of an organisation to the other, from its origin to reporting.

Why is Data Lineage important?

The number (and diversity) of data sources, the number of data items, and the complexity of applications make Data Lineage analysis a daunting challenge. However, without data lineage, every department within an organisation is essentially an independent silo with little visibility of each other’s metadata, processes and data definitions. It is commonplace, that the same data is digested and interpreted in many ways (and ultimately reported) diversely between departments of the same organisation!

If you think about the millions of bits of data which enter and flow throughout an organisation daily, it would be an exhaustive task to track and manage these differences between departments when an issue is identified. In fact, it would almost be impossible to identify such issues, unless an overarching department exists which oversees the data governance across all departments of the organisation.

A major side effect of poor data lineage is the inability for an organisation to quickly act and respond when situations such as; new business opportunities arise, responding to competitor actions in the market or (perhaps even more scarier) responding to a regulatory demand.

In many instances, the outcomes of poor data governance are loss in competitive advantage, hefty compliance fines and reputational impact.

Data Lineage looks to answer the critical questions that are required by effective data management. Where did the data originate? When was it captured? Who is using the data? Why is it meaningful? What are the data points it has passed through? How has the data changed as it passed through those points? And,
importantly, is the quality of the reported data to be trusted?

To answer these questions one must be able to trace up and down the data stream, from one data point to another without gaps, and be able to properly trace any errors back to their source and ensure reported
data is sufficiently accurate and complete in order to be in compliance.

This is especially relevant for the finance industry where compliance has been the main trigger for innovation in the traditional approach to data lineage in banking.

What is the traditional approach?

Lets take the example of a bank where the volume of critical data elements runs into the trillions. Banks simply cannot identify every single piece of data for reporting, and instead must identify the most important
data to follow through their systems.

The benefit of data lineage in such a scenario is straightforward: it simplifies the complexity of vast amounts of information and provides visibility of the data’s flow through various data points from source
to destination for governance, compliance and business impact.

But exacerbating data lineage is the issue of technology. For example, in every bank or large financial institution there is so much different technology that the data interacts with – various platforms and applications. Often, these technologies do not talk to each other because they do not speak “the same language,” which means someone needs to manually connect the dots, often using multiple spreadsheets.

Nixora and ASG Technologies step in

Nixora and ASG Technologies have taken a somewhat different approach, which is an automated approach that maps data lineage in an information system and detects movement of information from one data store to
another. The tool builds a knowledge base by scanning metadata and reconciles that metadata into an integrated information model that supports full forwards and backward navigation.

ASG has developed over 220 scanners for different technologies that allow the technologies to talk to each other. Which means data lineage is no longer a matter of manually identifying important data and following
it through each of the systems. They have instead mapped the technologies so that all of the data contained within those technologies is connected up automatically.

What are the benefits?

All stakeholders in your organisation need to know that reports accurately reflect the data. If there is a discrepancy and, lets say, there is a request for information on its source, and how it has moved and
changed through the organisation, such an investigation could take months.

Now, with ASG’s Enterprise Data Intelligence solution, if a problem exists and no matter where it exists, it takes only hours to identify the problem and find its source because everything has been automatically
tracked through the flow of people and processes.

Moreover, if your organisation would like to build a new product, such as cross-selling life insurance and banking, your campaign need not start on the ground floor. Because you already know where to obtain the
information and have everything you need to know about your customers, you can better understand and make quicker decisions about where you can cross-sell, or where not to.

Make no mistake about it! ASG’s data lineage is revolutionizing the way banks and large financ

IT Systems Implementation

System Integration

System Integration is a critical step within software implementation and it involves migrating data from one system to another. With proper integrations, you can save your team from having to copy data between systems manually.

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They will thank you for having thought about them! When developing integrations remember about data synchronization! Do you want to run the integrations in real-time or behind the scenes —which means outside of normal business hours? If accessing updated data is a critical thing for your team, you may want to consider running integrations continuously. Otherwise, you may wish to consider doing this outside regular working hours.

Solution Design

Once we have helped our customers to create the process design, it is time to work on the solution design, which is essentially a roadmap of business requirements and processes.

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During this step, we will help mapping the software to your business requirements so that everything is working in tandem.  The ultimate aim of solution design is to identify which features of your new software can be used just as they are and which aspects will need to be customized to fit the needs of your business and teams.

Implementation Planning

During the Implementation Planning we break down the implementation process into smaller steps, while defining the timeline, the teams and the resources that will be needed for a successful implementation of IT Systems.

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Implementing new software is always a challenge, even for the most flexible companies. Succeeding demands planning transitions smoothly and providing your team with relevant training material on the new system. The main steps are

Always start with a plan! Identify which processes and teams are going to be affected by the implementation and create a shared timeline for carrying the execution gradually. At this stage, you should try and question every possible thing that may get affected by the new software:

  • Is the implementation going to be done on stages or altogether?
  • How long will it last?
  • Will it require new security measures?
  • Who is going to deliver training for the members of your team?

Planning ahead will always make for a smoother implementation!

Configuration and Customisation

Installation and configuration are steps that should always come first, before defining any processes or rushing to customize any module. In most cases some modules and functionality of the new system would already meet your company’s needs.

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In most cases some modules and functionality of the new system would already meet your company’s needs out-of-the-box, while other aspects will require to be configured and connected to the roadmap we helped design in a previous step. Once installed, you’ll be able to customize the software.

Software customization can vary greatly depending on each business requirement and go from adding simple things such as new fields or building data dashboards, to more complex development such as building new modules or automation.

Testing & Training

There are four different types of testing: unit, project team, integration, and end-user testing. Each of them should be carried at different stages of the software implementation process to guarantee that everything works according to the plan.

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We have finally arrived at the final step of implementing software successfully: testing. There are four different types of testing: unit, project team, integration, and end-user testing. Each of them should be carried at different stages of the software implementation process to guarantee that everything works according to the plan. Like training, testing is also an ongoing process that should be done throughout the software implementation process, but also after the team has been using the software for a while.

Last but not least comes training, which may come in different forms and to different groups, from educating your project team on the new software to teaching the end-user how it works. You should always plan and deliver training systematically, even if people may have been already exposed to the same software somewhere else. And don’t forget that learning is a continuous process, so best practice suggests training sessions should be ongoing and planned according to actual needs.

Systems Implementation

Nixora Group’s resources have a deep knowledge of the best risk and data platforms and enterprise systems. We drill down into a full spectrum of risk management solutions across the enterprise.

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We drill down into a full spectrum of risk management solutions across the enterprise: from origination to credit, market and operational risk, GRC, surveillance, forensic and data management. This includes systems for data spreading, credit scoring, limit management, counterparty risk, Monte Carlo simulation and, for data, metadata management, data glossary and data lineage.

Data Management

  • ASG Data Intelligence solutions
  • Microsoft SQL Server
  • Oracle SQL Development
  • Risk Frontier
  • RiskCalc
  • Credit Edge +
  • LossCalc
  • Credit Risk Tracker

Process Design

Process design is a technique that allows you to organize and run things more efficiently, no matter whether it’s a business, software or a team. Most of the commercially available software nowadays has been created using process design methods.

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This is why when implementing new software you will probably need to adjust many of your new processes to the logic that was used for building that software.

Risk Reporting & Compliance

Risk Reporting

Nixora R&V help financial institutions gain new insights for improving services.

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With the right visualisation and interpretation, Nixora’s R&V help financial institutions gain new insights for improving services, capture new opportunities that data presents at all levels, and address regulatory compliance and business requirements.

AI & ML

Nixora Teams use Artificial Intelligence & Machine Learning to increase Credit Risk Models predictability in assessing potential risks analysing Big Datasets.

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What is AI?

“It’s a branch of statistics designed to extract information from the world of big (and wide) data”.

How AI works?

“It uses statistical techniques to allow computers to “learn” from data, without being explicitly programmed”

Applications in Banking

“Customer services/insight, AML and detection of fraudulent activity, and increasing the accuracy of credit risk models”

Compliance Reporting

We help clients take a disciplined approach to managing credit, market and operational risks through partnering with market leader organisations such Moody's Analytics and Axiom to implement and customise state-of-the-art risk and compliance IT systems.

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We ensure our client relationships are strengthened through a collaborative and integrated working approach. Nixora Group offers the full range of services required to successfully undertake the project delivery life cycle.

Cloud Transition & Services

Cloud Transition

We have a deep understanding of what cloud migration entails, how it can benefit your business, and what is involved in making it happen, to help you decide on the best strategy to achieve a smooth transition to the cloud.

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We work with you to determine the right cloud strategy, operating model, roadmap, and ecosystem partnerships, combining our deep industry and business acumen with technology insights. We then help you execute a seamless migration and modernization to Cloud that is secure, cost-effective, and agile.

Customer services/insight, AML and detection of fraudulent activity, and increasing the accuracy of credit risk models

Cloud Architecture & Configuration

Cloud architecture defines the technology components that are combined to build a cloud, where resources are pooled through virtualization technology and shared across a network.

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The components of a cloud architecture include:

A front-end platform (the client or device used to access the cloud)

One or more back-end platforms (servers and storage)

A cloud-based delivery methodology

A network to connect cloud clients, servers, and storage 

Nixora Group can support Banks and Financial Institutions with the creation of a cloud computing architecture on which applications can run, providing end-users with the ability to leverage the power of cloud resources.

AWS

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Azure

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Google Cloud

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Cloud System Implementation

We move digital assets, data, workloads, IT resources, or applications to all major cloud infrastructure: AWS, Google Cloud, Azure. Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididuntalgen.

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AWS

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Azure

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Google Cloud

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Data Science & Big Data

Robotic Process Automation (RPA)

As technological business solutions continue evolving and opening unlimited opportunities, with robotic process automation (RPA), Banks now rely on software robots to do the mundane work, increasing productivity and quality of services.

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Robotic Process Automation is the combination of artificial intelligence (AI), machine learning, process analytics (i.e. hyperautomation) makes a fully automated enterprise possible.

The benefits of robotic process automation in banking are manifold, and can include:

Powering customer onboarding, which is the first step to a strong relationship with customers. Any customer onboarding task can be automated with RPA, be it KYC or ID verification. Post onboarding, whenever a customer writes to the support team, the bots help speed through by checking the emails and assigning them to the concerned manager, depending on whether it’s a loan application, credit card request, or mortgage application.

Compliance, as worldwide regulators imposed over $25 billion of fines against charges and violations concerning KYC and anti-money laundering. Banks need to know every detail before approving a customer and software robots can replace the countless number of hours that go into compliance with error-free, and help to enforce preventive measures like not missing a deadline.

Enhanced Customer Services, as wait times on response can be drastically reduced with software bots in action. At service desks, bots can work alongside your front desk staff and perform tasks in the background, and help in realizing a touchless customer service necessitated by the pandemic.

Loan Processing involves several repetitive tasks such data entry, document routing, communications, that can all  be automated with RPA. These tasks will not only be performed at great speed but the chances of error are next to none. RPA can be integrated into the workflow streamlining and providing visibility into the process.

Report Generator by integrating business analytics dashboards, RPA helps extracting and transforming the business data into powerful, actionable insights.

Risk Analytics

Nixora offers a comprehensive set of Analytic Capabilities coupled with extensive knowledge of Specialised Vendors Solutions.

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Our RA&A services provide

Framework for Risk Data Aggregation and Risk Model Management

Modelling Workbench and Validation Frameworks

Strong competences of Analytics Platforms

Development of tailored dashboards for Risk Data Reporting and Disclosure

Risk Reporting Processes

Risk data aggregation and integrated risk model performance reporting.

Risk Modelling & Analytics

Model development, validation, risk strategy, model implementation, economic/regulatory capital calculation, stress testing and end-to-end delivery of risk management solutions.

Risk Practice Development

Development of internal Risk Analytics practice vendor solutions evaluation, capability development, knowledge management and specialised training at operational and executive levels.

Risk Management Delivery

Advise and engage in the delivery of a wide range of credit, market and operational risk management analytics initiatives, risk data integrity and model performance.

Workflow & Processes Automation

Workflow Automation

Workflow Automation refers to the design, execution, and automation of processes based on workflow rules where human tasks, data or files are routed between people or systems based on pre-defined business rules

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Workflow Automation refers to the design, execution, and automation of processes based on workflow rules where human tasks, data or files are routed between people or systems based on pre-defined business rules

By automating workflows, especially those processes that are primarily handled manually by employees, significant improvements can be made in:

  • Efficiency
  • Productivity
  • Accuracy
  • Audibility
  • Accountability
  • Job Satisfaction

Process Mining

Process mining is a technique to analyze and monitor processes. Process mining uses existing data available in corporate information systems and automatically displays the real process.

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Process mining uses powerful algorithms and advanced data transformation for discovering and optimizing business processes fast, data-driven, and complete.

The benefits of Process Mining are:

  • Survey processes everywhere across the enterprise at high scale and low human effort
  • Analyse processes fully and accurately, based on the facts
  • Zero in on bottlenecks, deviations and inefficient processes that should be rethought or automated
  • Continuously monitor processes and measure improvements
  • Simplify compliance, with full audit trails
  • Use in any industry: financial services, telecommunications, manufacturing, healthcare or consumer goods and beyond
  • Analyze virtually any process in any functional area: contact centers, purchase-to-pay, order-to-cash, and many more.

We understand the value of diversity,
and the strength that comes with
a cross-skilled workforce.