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.
Driven by BCBS 239, BRD implemented Accurity Glossary across their organization. They used Accurity Glossary to document and define over 15,000 attributes with over 3,000 data mappings. It is being used by almost every department in the bank with 50-60 active editors and between 150 and 200 users spread across 19 departments.
Accurity Glossary enables 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.
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Accurity Glossary is the cornerstone of our Data Governance strategy. It is helping to disseminate the data governance culture throughout BRD pushing people to think about data quality, trustability, definitions, and usability.