Financial services organizations must become experts in their data and learn how to leverage digital information as a commodity for discovery, advancement, and innovation. Institutions which generate and consume data can benefit from not only their own data science, but also from opportunities through new partnerships, both internally and through external collaboration.
FinTech Boston is creating a ‘best practices’ data management roadmap to maximize results and minimize risks in data strategies. The group works to identify challenges and make recommendations on ways to break down internal and external data silos among partner organizations in order to support new products, new services and enhanced customer relationship management. Through methodologies that includes surveys with CIOs and data analytics staff, FinTech Boston is identifying data strategy priorities and staff technical capabilities that ultimately will shape policies in data management that complies with regulatory and privacy requirements while enabling shared use of the data.
This work includes collaboration with other industries, local universities, technology companies and others who are focused on data strategy, risk and cybersecurity, together with their peers from university, government and technology. From breaking down internal and external data silos to identifying tools and practices currently in use, FinTech Boston is providing members with practical ideas to drive growth and mitigate risk.