Banks focused on harnessing artificial intelligence and personalization often find their biggest obstacle isn’t technology, but messy, fragmented data. Success with advanced tools begins with a disciplined approach to managing information, according to this article from The Financial Brand. That means establishing strong governance, defining the most valuable use cases, and building or partnering with organizations that can integrate data practices across the organization.
Listen to this episode of Banking with Interest, where Kiah Haslett of Fintech Takes Banking discusses comprehensive data strategies for community banks.
Does your bank have a clear understanding of the potential value of untapped or unstructured data? Does it have a role dedicated to managing data quality, governance, and usage decisions? What about a process to ensure data remains accurate and actionable across departments?