Physical or Logical Approach? Effective Strategies for Data Utilization in Digital Transformation Initiatives at BFSI Companies (India)
28 Jan 2021 - Online
11.00 am IST
Given the COVID-19 situation, consumers are increasingly demanding online transactions – voice commands, touchless digital payments, QR code scans, and so on – and banks are responding by accelerating their digital transformation initiatives. These include text-to-voice transformations, AI-integrated bots with Alexa, online loan processing, and so on.
All of these transactions require different types of data, such as customer information, employment and income details, credit history, among others. Traditionally, such data is stored across disparate sources – mainframes, databases, data warehouses, and now cloud. But, how do you unify the data and provide the holistic information to front office teams?
Many BFSI firms are resorting to traditional physical consolidation in data lakes. But given the explosion in data volume, format, and latency, is that still the right approach? Some forward-looking organizations are increasingly adopting a logical approach called data fabric.
Join Denodo for a roundtable discussion among CxOs about effective data centralization strategies for digital transformation initiatives, and whether they should take a physical or a logical approach.
The panelists will discuss:
- What are the consumer demands for online transactions?
- How are BFSI firms responding to these demands?
- What should be right approach for centralized data delivery – physical or logical?
- Which technology to use – data lakes or logical data fabric? What are their merits and demerits?