Smart Data Fabric for Decision Intelligence in Banking

This technical report presents findings from a Celent research survey involving over 100 retail banking executives in North America and the United Kingdom, focusing on the role of high-quality data in enhancing decision intelligence within the banking sector. The report outlines the persistent data challenges faced by banks, including issues with data integration, quality, and latency, which hinder the effectiveness of decision intelligence tools. It discusses the concept of a data fabric architecture as a solution to these challenges, facilitating seamless data integration and access across various data silos. The report emphasizes the importance of investing in decision intelligence capabilities, particularly in areas such as fraud detection and credit risk management. Additionally, it highlights the necessity for banks to modernize their data management architectures to improve overall performance and meet the increasing demands of a rapidly evolving financial landscape. The findings suggest that leveraging data fabric can significantly enhance the quality and accessibility of data for decision-making processes.