Arion Bank picks Datactics for data management
Arion Bank, one of Iceland’s three largest banks, has picked Datactics’ solutions RegMetrics and Single Customer View in support of its enterprise data management programme.
To choose a vendor, the bank conducted a proof of concept exercise across three key departments, each depending on high quality data for business operations and regulatory reporting.
“The Datactics team impressed us with their commitment to the exercise and the high quality of their tools,” says Höskuldur Hlynsson, data officer at Arion.
Hlynsson adds that the selection aims to help with matching and standardisation of disparate datasets to support its anti-money laundering (AML) processes. The bank is looking into ways to automate a number of manual tasks to deliver efficiencies for its back-office teams.
“The retail banking sector is highly-regulated and has constant demands on its data,” notes Stuart Harvey, Datactics CEO. “We’re seeing many of our clients in this sector provide us with evolving and developing requirements founded on data quality and remediation.”