Banks and Financial Institutions are by now well versed with submissions to regulators both national regulators and to European Central Bank. However the launch of Anacredit regulations, brings a new dawn to the granular level of submissions to the regulators. In a nutshell, Anacredit is applicable for all institutions which has more than EUR25,000 credit risk exposure to a counterparty. No other regulation by ECB has mandated such a granular level of data requirement by financial institutions.
Performance may mean different things to different organisations but essentially it’s a measure of success that needs to be monitored, maintained and improved. In my role as Sales Operations Manager I spend a lot of time thinking about how we can improve our own performance. In my case that’s about how well our solutions help our customers to meet their requirements and in turn deliver for their own customers. When it comes to driving better performance, I would go as far to say that I am obsessed with it. I read blogs, books, am top mates with TED and even have my own website dedicated to it.
Many of us are aware of the benefits that high-quality data can bring to an organisation including improvements in operational efficiencies, better decision making and avoidance of risk. It’s getting started that can often be the biggest road block. By that I mean, if you can’t quantify the tangible returns that investment in data quality can bring, how do you get buy-in for investment in it?
At Experian our main goal is to help our customers exceed their data ambitions. That makes understanding how you feel about us, our products, and how we work together one of the most important activities on our agenda.
This year I’m excited to announce that our Customer Relationship Survey is just around the corner, launching in a week’s time on the 21st September. With that in mind what better way to launch it than with a look back at some key improvements we’ve made in the last year – here’s my top five.
At Experian, we firmly believe the GDPR presents a positive opportunity to transform the way you organise and process your data; increasing the value you derive from it and reinforcing customer-centric business practices that are essential in our data-driven age.
I’m going to explore some of those opportunities below but before we kick off, it’s worth briefly highlighting how the GDPR is different to the existing Data Protection Act 1998, under which all UK businesses currently operate.
It is still difficult to comprehend that one in five businesses of all sizes has experienced a data breach in the past two years (21%). Our latest research (carried out by consultancy company ComRes) has shown this.
The impending GDPR is ready to impact every organisation that deals with Europe. The penalties are big, so preparation is key.
A core theme of the European Union’s General Data Protection Regulation (GDPR), which is to keep consumer interests front of mind at all times, mirrors sound fundamental advice for all companies.
In the recent Data Migration Research Study (carried out on Data Migration Pro in partnership with Experian) we took a detailed look at what’s happening in today’s data migration space. I’ve been exploring some key observations in my ongoing blog series and today I’d like to look at a particularly important factor - reliance on the 'Waterfall Method' of software development.
Interestingly up until July 2015, Ireland was one of the few developed nations without a postal code system. So the need for more accurate address data was pretty clear and that’s why Eircode was created. It’s a brand new advanced postcode system which can locate every home and business address in Ireland. With Eircode you can locate every individual address in the country using a single code at the end of a current address, like postcodes in the UK, helping to accurately direct mail and services to Irish addresses.
Any company, small or large, depends on its customers for business – and therefore success. They’re the lifeblood. And yet, our research has revealed that in the event of a crisis, specifically a data breach, businesses can become introspective and (unintentionally) put their interests ahead of their customers.
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