CIOs Are Leading the Creation of the Intelligent Bank
Technology executives must lead the creation and sustainability of the intelligent enterprise through technology.
Intelligence and decisioning have become the most strategically important capabilities of the digital bank. Every aspect of the bank's operations, from revenue creation to risk management, efficiency, regulatory compliance, customer insights, and credit decisioning, is dependent on having the right data, processing the data correctly, applying appropriate analytics, and then acting on the insights gained.
In a recent survey, the majority of financial services institutions said it is the responsibility of the CIO to bring enterprise intelligence to their organization. In this technology spotlight, IDC explains what CIOs must do to deliver across the five components of an enterprise intelligence strategy:
- Common data and application taxonomy
- Ubiquitous access to compute and memory resources
- Standard processes for moving data
- Common platform for creating and updating functions
- Collective governance model for orchestration, performance, and configuration
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