Data quality with purpose: Taking a data first approach and moving from assumption to assurance
“As part of the journey we’ve gone through with Ataccama, we’re becoming more data-first, moving from assumption to assurance around data quality.”
Steven Bennett, Head of Data Enablement, Chief Data Analytics Office, Lloyds Banking Group
Lloyds Bank is transforming its data capabilities with high quality and accessible data. Its latest efforts to align customer-centricity and an evolving regulatory landscape are some of its most important to date. Data quality significantly impacts business driven decisions across the Group; ensuring its data is complete, accurate and timely means the British bank can trust its data—and better support its customers and agents during critical exchanges.
To ensure Lloyds Bank enjoys a consistent approach to managing its most important data, the Group approached Ataccama and its expertise in delivering effortless data quality.
Read the ongoing story of Lloyds Bank and Ataccama to learn more about their data quality journey.
The context: An ongoing transformation in the banking industry
Lloyds Banking Group (LBG) is one of the largest banks across the UK. LBG is incorporating artificial intelligence and advanced data analytics to better understand customer needs, predict behaviors, and offer personalized products and services growing within an increasingly digital world. Alongside peers in the banking sector, it is also focused on ensuring compliance and constantly evolving data driven regulations.
“Data underpins so many of our business processes and how our systems operate. Having that information available to help manage our products and customer journeys really underpins everything we do as an organization.”
Steven Bennett, Head of Data Enablement, Chief Data Analytics Office, Lloyds Banking Group
As part of the Group’s data strategy, data management capabilities are pivotal to enabling AI and analytical benefits, and delivering personalised customer experiences. Lloyds Banking Group has undertaken a programme of work to build out core foundational data management capabilities. This has been undertaken in a programmatic way with specific focus on:
- Implementation of a producer/consumer model to ensure the Bank has the correct data accountabilities in place.
- Ensuring LBG understands its most important data. The work undertaken specifically focused on customer/client and regulatory data. As part of this work the Group has documented and captured its most important data and identified where this data is produced and consumed.
- Ensuring LBG has the appropriate controls across its most important data by implementing Ataccama’s Data Quality capabilities to understand and manage the quality of our most important data.
This approach is driving a cultural shift in how Lloyds Bank thinks about data across the Group, as well as who owns data and has the right capabilities in place to manage and measure its most important data.
“We’ve made significant strides over the last period and the cultural change has been a big step forward… It has meant that we’re continually improving how we manage customer/client/regulatory data.”
Steven Bennett, Head of Data Enablement, Chief Data Analytics Office, Lloyds Banking Group
As part of the Group’s programmatic approach there was a clear opportunity to leverage Ataccama’s Data Quality capabilities beyond a risk and compliance programme, and make this capability more readily available to deliver a consistent set of capabilities.
A key part implementing the producer/consumer model was to federate data accountabilities to where the Group’s most important data was produced, within its Business Platform teams. A key part of this work was for Business Platform teams to understand when their data didn’t meet the expected quality standards. To enable this to work a standardised Data Management control approach was deployed across systems of record.
- Ingesting system of record data into Ataccama.
- Data profiling: Uncovering hidden issues in data, such as duplicates, missing data, and inconsistencies.
- Data validation: Checking specific fields, like phone numbers and postal address, against specific business rules.
- Proactively identifying to engineers when data falls outside of the expected standard and there is a call to action to ensure there is no impacts to our customers and clients.
The future: Moving from assumption to assurance
“As part of the journey we’ve gone through with Ataccama, we’re becoming more data-first, moving from assumption to assurance around data quality.”
Steven Bennett, Head of Data Enablement, Chief Data Analytics Office, Lloyds Banking Group
The partnership between Lloyds Bank and Ataccama has accelerated the Bank’s impressive data and cultural transformation. Its shift from assumption to assurance has been core to the Bank’s customer-orientated success, enabling teams across the business to trust in its data.
This assurance has given the Chief Data Analytics Office the confidence to expand its capabilities and the next step is to build an enterprise-wide federated data quality program. Lloyds wants to move away from the BAU “turn the handle” style of data quality towards anomaly detection so it can predict where business units might have bad data. That shift will help change the mindset of its engineers, making it quicker to know what to do next when a problem arises.
In short, Lloyds is taking huge strides forward to transform into the proactive organization its senior leadership team envision while its customers remain the top priority, assured of a best-in-class experience.
“As part of the journey we’ve gone through with Ataccama, we’re becoming more data-first, moving from assumption to assurance around data quality.”
Steven Bennett, Head of Data Enablement, Chief Data Analytics Office, Lloyds Banking Group
Lloyds Bank is transforming its data capabilities with high quality and accessible data. Its latest efforts to align customer-centricity and an evolving regulatory landscape are some of its most important to date. Data quality significantly impacts business driven decisions across the Group; ensuring its data is complete, accurate and timely means the British bank can trust its data—and better support its customers and agents during critical exchanges.
To ensure Lloyds Bank enjoys a consistent approach to managing its most important data, the Group approached Ataccama and its expertise in delivering effortless data quality.
Read the ongoing story of Lloyds Bank and Ataccama to learn more about their data quality journey.
The context: An ongoing transformation in the banking industry
Lloyds Banking Group (LBG) is one of the largest banks across the UK. LBG is incorporating artificial intelligence and advanced data analytics to better understand customer needs, predict behaviors, and offer personalized products and services growing within an increasingly digital world. Alongside peers in the banking sector, it is also focused on ensuring compliance and constantly evolving data driven regulations.
“Data underpins so many of our business processes and how our systems operate. Having that information available to help manage our products and customer journeys really underpins everything we do as an organization.”
Steven Bennett, Head of Data Enablement, Chief Data Analytics Office, Lloyds Banking Group
As part of the Group’s data strategy, data management capabilities are pivotal to enabling AI and analytical benefits, and delivering personalised customer experiences. Lloyds Banking Group has undertaken a programme of work to build out core foundational data management capabilities. This has been undertaken in a programmatic way with specific focus on:
- Implementation of a producer/consumer model to ensure the Bank has the correct data accountabilities in place.
- Ensuring LBG understands its most important data. The work undertaken specifically focused on customer/client and regulatory data. As part of this work the Group has documented and captured its most important data and identified where this data is produced and consumed.
- Ensuring LBG has the appropriate controls across its most important data by implementing Ataccama’s Data Quality capabilities to understand and manage the quality of our most important data.
This approach is driving a cultural shift in how Lloyds Bank thinks about data across the Group, as well as who owns data and has the right capabilities in place to manage and measure its most important data.
“We’ve made significant strides over the last period and the cultural change has been a big step forward… It has meant that we’re continually improving how we manage customer/client/regulatory data.”
Steven Bennett, Head of Data Enablement, Chief Data Analytics Office, Lloyds Banking Group
As part of the Group’s programmatic approach there was a clear opportunity to leverage Ataccama’s Data Quality capabilities beyond a risk and compliance programme, and make this capability more readily available to deliver a consistent set of capabilities.
A key part implementing the producer/consumer model was to federate data accountabilities to where the Group’s most important data was produced, within its Business Platform teams. A key part of this work was for Business Platform teams to understand when their data didn’t meet the expected quality standards. To enable this to work a standardised Data Management control approach was deployed across systems of record.
- Ingesting system of record data into Ataccama.
- Data profiling: Uncovering hidden issues in data, such as duplicates, missing data, and inconsistencies.
- Data validation: Checking specific fields, like phone numbers and postal address, against specific business rules.
- Proactively identifying to engineers when data falls outside of the expected standard and there is a call to action to ensure there is no impacts to our customers and clients.
The future: Moving from assumption to assurance
“As part of the journey we’ve gone through with Ataccama, we’re becoming more data-first, moving from assumption to assurance around data quality.”
Steven Bennett, Head of Data Enablement, Chief Data Analytics Office, Lloyds Banking Group
The partnership between Lloyds Bank and Ataccama has accelerated the Bank’s impressive data and cultural transformation. Its shift from assumption to assurance has been core to the Bank’s customer-orientated success, enabling teams across the business to trust in its data.
This assurance has given the Chief Data Analytics Office the confidence to expand its capabilities and the next step is to build an enterprise-wide federated data quality program. Lloyds wants to move away from the BAU “turn the handle” style of data quality towards anomaly detection so it can predict where business units might have bad data. That shift will help change the mindset of its engineers, making it quicker to know what to do next when a problem arises.
In short, Lloyds is taking huge strides forward to transform into the proactive organization its senior leadership team envision while its customers remain the top priority, assured of a best-in-class experience.
