The BCBS 239 standard lays out principles designed to strengthen data governance processes, risk data aggregation, and risk reporting across the banking industry. Although originally aimed at Global (G-SIBs2) institutions, many national supervisors are now requiring the same standards from Domestic (D-SIBs3) institutions.
Banks should be compliant with all principles set out in the standard, including infrastructure and capacities that they should have in place. Implementing BCBS 239 principles also brings many rewards by greatly improving risk management and decision-making processes across the institution.
Cornerstone of data governance initiative
Accurity Glossary enables you to define a harmonized, organization-wide business terminology, which simplifies communication between departments and helps to accelerate Data Governance processes.
Accurity Quality facilitates profiling, monitoring, controlling, and reporting on data quality and related events through an integrated technology platform.
Accurity can connect with multiple data sources and end-user reporting tools, offering important integrations for business-critical data and decision making.
Accurity products, as well as Simplity’s consultancy services, can provide support for Data Governance, Data Architecture, Accuracy and Integrity, Completeness, and Adaptability.
Harmonize your data to provide a common understanding among business units. Fulfill regulatory requirements and enable the business to make better use of data. Support your data governance processes and achieve cost savings when starting new projects or onboarding new personnel. Improve traceability without complex IT solutions via simple impact analysis and data lineage.
Enhance your regular data quality measurements and reporting using business-defined checks and rules. Improve your decisions based on accurate data with rapid discovery and triggering of new issues. Be in control with reporting dashboards, scorecards, and trends over time.
Reduce your costs by maintaining reference data in one system. Easily identify and address the impact of changing reference data content on other reference data entities. Produce consolidated reports quickly by having all reference data in one place. Remove redundant IT implementations normally needed for reference data maintenance across multiple systems.
Thanks to the awareness Accurity helps spread about data quality, we no longer encounter the data quality issues that we fixed in the past. Data quality rules have become enshrined in the data entry process. I firmly believe that if we had rules over all our data, there would be no bad data quality in our reporting whatsoever.