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services-data-governance_header

DATA
GOVERNANCE

The Key to managing your Data Risk and fostering Trust in Information Assets

Govern All Data

Effective data governance spans both structured and unstructured data. Providing a holistic view of all operations and customer interactions, enables  informed, data-driven decisions.

Data governance  ensures  accuracy, security, and compliance in an complex and continuously evolving  data landscape, thereby fostering trust and  risk mitigation by utilizing a single source of truth.

Approach

Effective data governance is imperative for organizations to navigate the complexities of data risk and privacy and security regulations while ensuring data accuracy, security, and regulatory compliance.  A structured approach to data governance helps ensure the  processes are well understood, the people who are responsible know their roles, and  fortifies operations, builds trust, and optimizes strategic initiatives.

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    Establish a Framework

    An effective data governance framework  defines roles, responsibilities, and critical business processes. This framework encompasses both structured data (i.e. customer transactions) and unstructured data (i.e. emails and documents).
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    Define Standards

    Data governance standards must  be clearly defined and regularly enforced. This involves periodic data cleansing, validation, and integration procedures to ensure  accurate and reliable information for decision-making.  
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    Define Policies

    Data governance policies need to align with industry standards and regulatory  requirements to ensure compliance and prevent penalties or reputational damage. 
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    Safeguard

    Robust security measures, aligned with your standards and policies, are essential. Access controls, encryption, and authentication protocols must be in place to safeguard sensitive data against breaches or unauthorized access.
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    Monitor

    A continuous monitoring and improvement process is crucial. Regular audits and reviews ensure that data governance practices remain effective and adapt to evolving technological and regulatory landscapes.

Tools and Assets

Data management software, metadata management systems, and data cataloging tools are used to track and manage data assets. Axxiome's deep financial services expertise and experience   delivering a wide variety of data governance projects has resulted in referenceable clients and several strategic partnerships with industry  leading data governance software providers. Together, we provide best-in-class data governance solutions and advisory services to ensure data accuracy, reliability, compliance and security. 

Technical Partnerships
Axxiome has established close partnerships with Collibra and Ohalo to govern the full spectrum of structured and unstructured data in your organization.
Industry Focus
We are a leading provider of technical services to the financial services industry. Axxiome has been providing core banking, digital banking and data management solutions across the globe for more than 15 years.
Accelerated Approach
Having implemented a variety of data governance solutions and data consultancy projects, Axxiome has developed assets and an approach that can be right sized and implemented in an efficient, cost-effective manner. 
People

Axxiome's consultants bring deep industry-agnostic experienced in successful implementations and will help establish your data governance program and enable your team to run it long term to scale with your organization.

Benefits

  • Effortlessly share knowledge across the organization.
  • Eliminate uncertainty and instill trust in data.
  • Optimize processes and drive enterprise value through workflow collaboration.
  • Enhance decision-making, mitigate risks, and drive revenue.
  • Ensure security and privacy compliance.

FREQUENTLY ASKED QUESTIONS

Why is data governance important? Data governance framework, processes, and guidelines ensure data quality, security, compliance, and effective management. It's essential as it helps organizations make informed decisions, maintain data accuracy, and adhere to regulations.
Who is responsible for data governance within an organization? Data governance involves a cross-functional effort. Typically, a Data Governance Council or a similar group comprises members from IT, business units, legal, and compliance. This ensures diverse perspectives and expertise in managing data effectively.
How does data governance impact data quality? Data governance enforces data quality standards, ensuring consistent, accurate, and reliable information. By defining data ownership, validation processes, and quality metrics, data governance enhances data integrity.
What's the relationship between data governance and data security? Data governance establishes access controls, encryption methods, and authentication protocols to safeguard sensitive information, thus directly contributing to data security and minimizing the risk of breaches.
What role does data governance play in regulatory compliance? Data governance aligns data practices with industry regulations (e.g., GDPR, HIPAA and other national and regional laws). By defining data usage, retention policies, and audit trails, organizations ensure compliance, avoiding legal penalties and reputational damage.
How does data governance adapt to technological advancements? Data governance remains dynamic. It adapts to new technologies, such as AI and machine learning, by integrating them into data management processes while maintaining adherence to established policies and regulations.
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