Data Integration for Financial Institutions: 50 Expert Tips for Optimizing Customer Data

Banks and financial institutions cannot afford to leave their customer data in silos now that customers are raising their expectations and interacting with them through various disparate touchpoints. Banks, like any other major enterprise, must make use of data integration in order to gain meaningful and valuable information from their customer data. Through data integration, banks gain a competitive edge with powerful business intelligence – the business intelligence that is necessary for engaging customers across all channels and for obtaining a single, complete view of those customers across all channels.

To become truly data-driven, banks and financial institutions are turning to data integration solutions. As with any major shift in business processes and practices, there are bound to be some challenges for banks who undergo data integration. To help you along the way, we have rounded up 50 of the best data integration tips for banks. Our top tips come from industry leaders, data integration experts, and customer data authorities who understand the data integration process and its potential benefits. Please note, we have listed our top data integration tips for banks here, in no particular order.

1. Join the digital age to meet customer expectations


Finextra offers news, views, networking, and discussion for anyone involved in the global financial tech community. In his Finextra article on data integration, Data Integration Is Key for Banks to Capitalize on Digital, Balazs Fejes of EPAM Systems explains that banks are missing out on opportunities for growth when they fail to integrate their customer data.

Three key points we like from Finextra:

  • The digitization of the customer experience is drastically changing the traditional retail banking business model
  • Customers are increasingly using digital and mobile devices to access banking services
  • Banks must balance the increasing demands of their customers while staying ahead of their competitors in the digital marketplace

2. Banks should prioritize integrating social media functionality into the digital banking experience

Bank Innovation

Bank Innovation centers on the future of banking technology. Bank Innovation writer Philip Ryan’s 10 Tips for Integrating Social Media with Digital Banking Channels examines why banks should take advantage of the overlap of social media and digital channels.

Three key points we like from Bank Innovation:

  • Social media is really about brand awareness and customer engagement
  • Integrate Twitter and Facebook into mobile apps
  • Drive the discussion via social media

3. Utilize data integration to enhance customer data security


A leading global professional services company, Accenture deals in strategy, consulting, digital, technology, and operations. That’s why they understand the ways in which digitization has helped banks to reach their customers while also putting them at greater risk of fraud and financial crime. In Banking Cyber Security: How Data Consolidation Can Help, Accenture offers insights into using data integration to enhance cyber security and improve business agility and effectiveness.

Three key points we like from Accenture:

  • Banks need a more integrated view of relevant data in order to mitigate the effects of financial crime and reputation damage as a result of data security breaches
  • Integrated data involves three key elements for success: high quality data, useful analytics, and data visualization
  • Data integration can be leveraged to improve customer retention rates

4. Data integration is key to becoming a customer-centric organization


PricewaterhouseCoopers has been helping companies around the world do better business for years. They have built their reputation on relationships and understand that companies need to do the same with their customers. In their Getting to Know You: Building a Customer-Centric Business Model for Retail Banks, PwC examines why retail banks in the United States that continue to use product silos are struggling as revenues shrink and regulations expand.

Three key points we like from PricewaterhouseCoopers:

  • Banks that put customers first with data integration will maintain acceptable levels of profitability and differentiate themselves from competitors that fail to give up their silos
  • With data integration, banks learn more about their customers’ needs, wants, and expectations, which allows banks to boost sales
  • Leading banks use data integration to emphasize contact optimization, rather than invest in a high volume of advertising to the masses

5. Data integration assists banks in aligning their social media efforts with core business strategy and brand image


Deloitte provides auditing, consulting, financial advising, risk management, tax, and related services to select clients. Deloitte’s Who Says Banks Can’t be Social? Become a Social Bank, Inside and Out explains that social media is transforming your banking customers’ daily behavior and their expectations of their financial partners. Through data integration, banks have an easier time achieving transparency and creating two-way interactions through social media to meet and exceed customer expectations.

Three key points we like from Deloitte:

  • Social banks pursue engagement with customers in appropriate ways that align with business strategy and goals
  • Social means more than launching Facebook provides and using Twitter as a marketing and customer service venue
  • Data integration helps banks to embrace the voice of the customer, move from transactions to relationships, and internalize feedback

6. Data integration is important for creating unified banking customer experiences

Data Science Central

Data Science Central is the industry’s single resource for Big Data practitioners, with information on everything from analytics to data integration. In his data integration post for Data Science Central, Naagesh Padmanaban explains that data integration is a disruptive force for banks that fully adopt digital transformations.

Three key points we like from Data Science Central:

  • Digital banking has resulted in delivering banking services to remote areas and bringing large unbanked segments into mainstream banking
  • Digital banking through various channels provides customers with the information they need at the time, place, format, and device of their choice
  • Data integration can help banks elevate the customer experience by enhancing the ways in which banks deliver products and services to their customers

7. Data integration strategies should precede analytics and data tools

LinkedIn Pulse

Priya Jha is an experienced digital transformation business analyst at BT Financial Group. In her LinkedIn Pulse data integration post, Data Integration before Analytics, Jha explains that banks must analyze their data integration strategies before they implement cloud, Big Data analytics, and the like, if they hope to put their customer data analytics to work for them.

Three key points we like from Priya Jha, via LinkedIn Pulse:

  • Having the right data integration strategies in place is key to knowing what data your bank has and where it sits
  • The best insights from data cannot be derived until the banks have a proper data integration strategy in place
  • The idea is to integrate and transform all of your data so that it is readily available for high-level analytics applications

8. Data integration helps banks gain a better understanding of multi-channel customer relationships


ShiftCentral is a leading provider of outsourced market intelligence services for major organizations across the globe. In this ShiftCentral article on data integration in financial services, senior analyst in financial services Barry Charuk explains that analytics 3.0 is helping banks with data integration to gain a better understanding of customer behavior and to develop better relationships with customers.

Three key points we like from ShiftCentral:

  • Analytics 3.0 combines various volumes of data from different sources and formats to deliver new insights in predictive and prescriptive models to banks
  • Thanks to data integration and analytics 3.0, banks are pursuing revenue growth by understanding multi-channel customer relationships and behavior in new ways
  • Data integration enables banks to monitor the customer journey for improved insights on the effects of websites, call centers, tellers, and other branch interactions on customers’ decisions to purchase financial services

9. Data integration involves customer privacy

Equifax Insights Blog

The Equinox Insights blog offers powerful consumer, commercial, and workforce insights. Their data integration post emphasizes the need to keep all customer data private, especially now that banks have so much access to it. The solution is intelligent customer data integration.

Three key points we like from Equinox Insights:

  • Accurate and timely data are a must, but companies must protect the data and keep it private via customer data integration
  • Banks with separate databases for various accounts may not be able to disclose customer information across platforms, which can annoy customers and waste the banks’ money
  • Streamlining customer data integration is simplified when using a system that enables platforms to share data without revealing personal information

10. Be sure that your data integration solutions do not limit your business value


Customer data integration may have some limitations for banks, but there are ways around those limitations, according to Ravi Shankar, a senior director of product marketing for Informatica. In his TDWI data integration article, LESSON – How to Overcome the Limitations of Customer Data Integration, Shankar examines the critical components of a successful data integration solution.

Three key points we like from TDWI:

  • Data integration must enable a 360-degree customer view
  • Data integration must associate a single banking customer with all of his accounts and products
  • Data integration must extend the customer view to reveal of a customer’s valuable family, business, and bank employee relationships

11. Banks benefit from proactively getting to know individual customers via data integration

Tom Kadala

Data scientist and serial entrepreneur Tom Kadala examines the value and benefits of data integration for banks in his post, Disrupting the Banking Industry with Big Data and Data Analytics. As Kadala points out, data integration helps banks unlock the value of social media and similar web-based services.

Three key points we like from Tom Kadala:

  • Data integration gives banks an accurate 360-degree view of their customers on an individual basis
  • Data integration matches behaviors with individual names, allowing bankers to accurately calculate the lifetime value of each customer
  • Data integration that fully integrates operational data with unstructured social media streams gives banks a competitive edge

12. Data integration is a must for banks using Big Data


The Riksbank is Sweden’s central bank. Aurel Schubert, the director-general of statistics, authored Data as a Core Central Banking Asset – The Strategy of the ECB for Riskbank’s Big Data Workshop. The publication examines the challenges and solutions for using Big Data in banking and emphasizes the need for data integration.

Three key points we like from Riksbank:

  • Data integration provides awareness and visibility for banks and allows for best practices in analytics
  • Data integration is key for data sharing
  • Data integration allows for new analyses and research

13. Data integration involves many factors


Away delivers solutions to extend enterprise boundaries and empower customers to govern the flow of data. They share an excerpt from their podcast, What Larger Banks Do to Minimize the Difficulty of Automating Stress Testing, which includes an interview with Peter Benesh, Axway’s director of solutions marketing for the financial services industry. Benesh explains that banks need to carefully consider data integration practices before implementing them.

Three key points we like from Axway:

  • Data integration can be a challenge when banks have data that resides in many places and in both structured and unstructured forms
  • Data integration requires various connectors to extract information from every possible data source
  • Banks need to determine how broadly they want to scope their data integration processes and then be sure they have the correct technologies or data integration solution in place to meet their goals

14. Data integration gives financial institutions the predictive analytics they need


Veristorm offers data management and integration solutions for accelerating next-generation analytics and large-scale data processing. Their data integration blog post, Why Banks are Taking Big Data to the Cloud, shares a conversation with Veristorm executive vice president Ed Franklin and explains that data integration leads to the predictive analytics that are necessary for getting to the ‘market of one.’

Three key points we like from Veristorm:

  • Data integration helps banks understand the moves customers will make at various stages of their lives
  • Data integration produces better insight into customers, so that banks can offer more attractive services
  • Data integration addresses some of the challenges banks face when maintaining customer data for long periods of time

15. Banks can survive the digital age with data integration


Bloomberg is the first source for business news. In his Bloomberg for Enterprise Integration and Distribution blog post, Banks Too Slow to Modernize Core Systems, American Banker writer Craig Focardi explains that banks will survive only if they adapt to the digital age. One such adaptation is to transform their core systems and add digital channel technologies, data warehouses, and customer relationship management systems and integrate them with legacy core systems through web-based integration.

Three key points we like from Bloomberg:

  • Banks need to overcome their perceptions of the risk involved in core banking system replacement
  • Banks that modernize their systems and move toward data integration have a better chance of surviving the digital age
  • Data integration helps banks improve regulatory compliance, improve processes and customer experience, and reduce risks

16. IT, culture, and regulation are important factors in successful data integration for banks

MX Technologies

MX Technologies teams with digital banking providers and financial institutions to enhance the customer experience and position banking partners as advocates for end users. Their blog post, Banks and Finch: A Matter of Co-Opetition, Part 2 – Best Integration Practices, highlights industry experts’ findings and best practices involved in integrating fintech.

Three key points we like from MX Technologies:

  • IT must be included in the integration planning so that banks have the infrastructure needed for successful customer data integration
  • Successful data integration requires cultural shifts
  • Banks undergoing data integration need to ensure that their solutions stay within regulations

17. Data integration is key for advanced analytics

Sequel Software

Sequel Software provides data access and analysts software. Their article, How Banks Leverage Big Data for Big Value, explains that banks utilizing data integration benefit much more than banks that do not, because they have access to all of their data and therefore have advanced analytics at their disposal.

Three key points we like from Sequel Software:

  • Banks lacking data integration face limitations when attempting to reach their goals
  • Analytics software cannot do its job when it has insufficient data, due to a lack of data integration
  • Data integration ensures a greater accuracy of data and compliance in the highly-regulated banking industry

18. Data integration is the answer for consolidating systems, eliminating data silos, and streamlining banking operations


Syncsort provides fast, secure, enterprise-grade software from Big Data solutions in Hadoop to big iron applications on mainframes. Christy Wilson’s data integration article for Syncsort, 4 Real-World Examples of How Financial Institutions are Making Use of Big Data & Data Integration, looks at the ways in which banks are getting advanced customer insights via data integration.

Three key points we like from Syncsort:

  • Data integration enables banks to fine tune their customer segmentation
  • Data integration gives banks the insights needed to lower investment risks
  • Data integration makes detecting fraudulent activities much easier

19. Data integration empowers banks to effectively use Big Data


Infosys is a global leader in consulting, technology, outsourcing, and next-generation services. Anjani Kumar’s Infosys FINspeak blog post, Harnessing Big Data in Banking, examines how data integration empowers banks to fully benefit from Big Data.

Three key points we like from Infosys:

  • Proactive banks use data integration and Big Data to gain a unified customer view, improve customer segmentation and targeting, enhance customer retention and loyalty, and make personalized offers
  • Banks that integrate heterogeneous reference data sources and distribute their data across the bank in real time gain a competitive advantage
  • Banks can improve customer confidence and the customer experience while enhancing their security processes via data integration

20. Customer data ownership is a consideration in data integration practices


The Clearing House operates payment systems at the heart of the banking industry and works with commercial banks to create new opportunities for next-generation payments. In his The Clearing House article, The Looming Battle over Customer Data, ValueStream’s Karl Antle examines the balance that banks need to create between using customer data and respecting customer data.

Three key points we like from The Clearing House:

  • Data integration allows banks to gain a full picture of customer journeys
  • Banks need to consider customers’ rights to their own data while they gather customer data from all sources via data integration
  • Compliance and data ownership play a vital role in data integration practices

21. Data integration is a gateway to customer centricity

The Financial Brand

The Financial Brand offers ideas, insights, and inspiration for financial marketing executives. Their article on Big Data and data integration, Big Data: Profitability, Potential and Problems in Banking, examines the ins and outs of banks harnessing the sheer volume of data and achieving customer centricity via data integration.

Three key points we like from The Financial Brand:

  • Achieving customer centricity requires a deep understanding of customer needs, which can be acquired via data integration
  • Without data integration, banks have access to only a small percentage of customer data
  • Data integration provides the seamless 360-degree view of customers that banks need to achieve customer centricity

22. Banks may regain the customer connection via data integration

C24 Technologies

C24 Technologies helps companies take control of their data by importing, transforming, querying, and reporting in real time across all financial messaging data. Steve Miller’s C24 blog posts, PSD2: A Data-Driving Identity Crisis for Banks, explains that banks are competing with Fintech startups to gain customers’ attention, but banks may win by regaining the customer connection via data integration.

Three key points we like from C24 Technologies:

  • The digital disruption is forcing banks to know their customers again through data integration
  • Data integration can increase customer loyalty
  • Data integration may help banks to quickly access and exploit customer data to gain a competitive advantage

23. Data integration solves many of today’s banks’ challenges


Capgemini’s philosophy is that the business value of technology comes from and through people. As such, they believe that a human-centered approach to technology is a must. Their data integration white paper, A Case for Enterprise Data Management in Banking, emphasizes the need for data integration in banking to address compliance, risk management, operating efficiencies, client relationship, and marketing challenges banks face today.

Three key points we like from Capgemini:

  • Data integration enables predictive analysis and enhanced customer analytics
  • Data integration is quickly becoming a key component for cross selling, customer lifetime value management, risk management, and recovery management
  • Data integration helps banks capitalize on social media analytics and content tracking

24. Achieving customer-centric banking with data integration


A global leader in integration and analytics, TIBCO explores the ways in which banks can achieve customer centricity thanks to data integration. Innovative banks understand that long-term success hinges on effective customer relationship strategy, which is dependent on gaining a complete view of each customer.

Three key points we like from TIBCO:

  • Data integration helps banks manage customer information more effectively
  • Data integration helps banks manage customer interactions across multiple channels
  • Banks can speed the introduction of new products with the help of data integration

25. Data integration enables banks to evolve the customer experience more easily

NGDATA Banks Evolve

NGDATA helps companies operationalize data analytics through Lily Enterprise, a real-time, analytics-based customer experience management solution. In his NGDATA blog post, Banks and Google, CTO Steven Noels begins with a quote from Bank of the West’s Jamie Armistead, which points out that data integration solutions make it much easier for banks to evolve the customer experience.

Three key points we like from NGDATA:

  • A data integration solution that prepares and manages data in a customer-centric way is key for great customer experience
  • Data integration is not as useful when it does not process and organize the data around the customer
  • Proper data integration enables companies to offer personalized service and proactive offers that are specific to single customers

26. Banks better manage customer experience with data integration


CBInsight is the place for Community Bank news, press releases, jobs, events, and thought leadership. In this CBInsight post, Cross-Channel Marketing and Data Integration, OMI CEO Brad Banyas explains how a lack of data integration erodes banks’ performance in the ever-evolving competitive banking landscape.

Three key points we like from CBInsight:

  • Without data integration, banks struggle to leverage their customer data effectively across multiple marketing channels
  • Data integration helps banks meet customer expectations
  • Data integration results in a better understanding of customer behavior so that banks can deliver enhanced cross-channel customer experiences

27. Accessing all customer information via data integration


The BeyeNETWORK focuses on all aspects of the business intelligence ecosystem, including analytics and data warehousing. In his BeyeNETWORK data integration article, Business & Decision innovation and solutions director Jean-Michel Franco highlights the need for data integration for banks that are underusing information as an asset.

Three key points we like from BeyeNETWORK:

  • Data integration allows for the personalized service that banking customers expect
  • Data integration enables data quality control for better risk management
  • Data integration aids banks in regulatory compliance

28. Data integration benefits each arm of the bank

Computer Weekly Karl Flinders

Computer Weekly is the UK’s leading IT publication. In his arguable on data integration, Computer Weekly services editor Karl Flinders explains that banks are seeking to free vast quantities of customer data from silos so that each arm of the bank has access to the customer’s information quickly and easily. The solution is data integration.

Three key points we like from Computer Weekly:

  • The benefits of gaining a single customer view via data integration are massive
  • Data integration saves banks time and money and adds value to their brand through improved customer service
  • Banking staff will have better information when making decisions about providing financial products to customers, thanks to data integration

29. Achieving a better customer experience via data integration

Global Banking Finance Review

Global Banking & Finance Review is an online portal for informative, independent news within the financial community. In his Global Banking & Finance Review article, Pentaho vice president of EMEA and APAC Davy Nys explains that retail banks basing customer experience on data integration have a better chance of monetizing Big Data.

Three key points we like from Global Banking & Finance Review:

  • Big Data and data integration can repair trust and improve the customer experience for banks and their customers
  • Banks can utilize data integration to design more competitive customer offerings
  • Customers expect a seamless, integrated customer experience, and banks that properly utilize data integration can deliver it

30. Banks that properly utilize data integration improve the bottom line


CGI, a global information technology and business process services provider, shares their insight into consumer banks and data integration in their white paper, Realizing the Value of Customer Information: Lessons from Consumer Banking Success Stories. Banks, like other organizations, are trying to achieve a complete 360-degree view of their customers to they can make the best data-driven decisions and improve their bottom line. Data integration can make that happen.

Three key points we like from CGI:

  • Banks can rely on data integration to put their data to work to improve the quality of customer relationships
  • Data integration helps banks optimize the customer experience and improve the results of cross selling, customer retention, risk management, and overall profitability
  • Data integration helps banks to gain a better understanding of customer behavior and profitability

31. Data integration helps banks put customers at the center of business


CapTech is an award-winning national IT management consulting firm that works to bridge the gap between business and technology. In his data integration article for CapTech, Michale Tevebaugh explains that channel integration is a must in today’s customer-centric world.

Three key points we like from CapTech:

  • Customers are driving online and mobile growth, so banks need to adopt data integration to capitalize on data from those channels
  • Banks can achieve a single customer experience via data integration
  • Dat integration benefits include increased cross-selling capabilities, increased go-to-market speed, and enhanced usability

32. Data integration helps banks improve various business processes even as regulations change


Hexanika offers Big Data technology solutions focused on bank’s data governance and regulatory reporting. Their data integration article, Evolution of Data Integration Post the Implementation of Dodd-Frank Act, highlights the fact that banks rely on technology to improve business processes but require new technologies to address the issues and challenges brought about by the rapidly changing regulatory environment.

Three key points we like from Hexanika:

  • A successful data integration solution delivers usable and meaningful data from a variety of sources
  • Banks must rely on data integration do comply with new regulations and reporting processes
  • Data integration solutions should update as regulations change

33. Banks that don’t adopt data integration practices will fall behind in 2016

MapR Converge Blog

MapR enables organizations to create disruptive advantage and long-term value from their data with a converged data platform. In his post for the MapR Converge Blog, Top 10 Big Data Trends in 2016 for Financial Services, MapR global financial services director Sean O’Dowd looks at the implications for banks failing to keep up with the trend of data integration.

Three key points we like from MapR Converge Blog:

  • Data governance, lineage, and compliance are addressed by new data integration platforms
  • Banks struggling to understand how to leverage IoT data are finding success with data integration solutions
  • Data integration solutions are addressing trade, portfolio management, and advisor applications so that banks can achieve even greater benefits from Big Data

34. Data integration addresses operations, product development, and compliance challenges


MarkLogic is a top database for integrating data from silos. Their white paper, Top 3 Ways Big Data Impacts Financial Services, explores how banks and firms are choosing data integration solutions to solve their challenges with Big Data. Data integration can address operations, product development, and compliance challenges.

Three key points we like from MarkLogic:

  • Data integration is the answer for today’s volume, velocity, and variety of data
  • Data integration helps banks and financial firms collect, store, and analyze rapidly changing petabyte-scale data in order to maximize profits, reduce risk, and meet strict regulations
  • Data integration solves the challenges associated with consolidation and inefficient operations that result from mergers

35. Data integration is key to client relationships


Data Informed delivers information and news on Big Data and analytics for the enterprise. In his Data Informed article on data integration for financial services, Albridge vice president and relationship manager for Farayi Chimbangu expounds upon the necessity of data integration for customer relationships.

Three key points we like from Data Informed:

  • Improved value proposition and long-term success depend on data integration, as banks look to achieve efficiency and stable growth in terms of assets and new clients
  • Data integration makes it possible for banks and financial firms to stay relevant throughout a customer journey
  • Top data integration solutions ensure consistency across the front and back office with effective data management

36. Data integration tackles many of the challenges associated with Big Data

No Magic

No Magic, the vendor of the award winning software modeling tool MagicDraw, also provides professional services for all or part of the lifecycle of software projects to corporate clients around the globe. Their blog post, Eight Things Preventing Big Data Implementations in Financial Services, highlights the challenges that are associated with Big Data and proposes that data integration is the key to solving them.

Three key points we like from No Magic:

  • Banks using Big Data for fraud detection and prevention, customer insight, regulatory compliance and reporting, and improved operations do not fully benefit from their analytics and insights until they implement data integration processes
  • Distributed data is a roadblock for banks because key data resides in legacy systems and silos and is not included in analytics as it should be
  • Data integration eases the challenges of regulations and data access that came about after the 2008 economic meltdown

37. Data integration requires new solutions

Kofax Advisor

Kofax, a leading provider of smart process applications that simplify and transform customer engagement, reminds readers that external data integration is not easy for banks that attempt to do so while relying on outdated technologies. Banks do not have the time or resources to conduct data integration manually; new data integration solutions are required if banks are going to capitalize on customer data.

Three key points we like from Kofax:

  • Banks must handle external sources of structured and unstructured data
  • A bank’s IT infrastructure must be prepared to handle today’s data integration requirements
  • If banks are to benefit from Big Data analytics, they just have the correct data integration solutions in place

38. Data integration helps big banks make use of Big Data to capitalize on big opportunities


The American Bankers Association represents banks of all sizes and is the voice for the United States’ banking industry and its two million employees. The ABA shared NGDATA’s white paper, Big Data, Big Banks and Unleashing Big Opportunities, to demonstrate exactly how data integration solutions like NGDATA’s Lily Enterprise help banks gain a 360-degree view of the consumer to gain a competitive edge.

Three key points we like from ABA and NGDATA:

  • Banks get a leg up when they identify trends and changes in consumer behavior faster than their competitors by using Big Data via a leading data integration solution
  • Banks are better positioned to make relevant, timely offers when they base decision on information from a data integration solution
  • True customer insights that result in competitive agility result from the implementation of leading data integration solutions

39. Data integration is not as challenging as it may seem


Genpact, a global leader in business process management and services, shares the Everest Group’s report, Analytics in Banking, to demonstrate how banks are conquering the challenges associated with data integration. Banks are managing compliance, risk, and analytics with the help of data integration.

Three key points we like from Genpact:

  • Data integration improves analytics, allowing banks to gain a better understanding of consumer behavior
  • Banks can better respond to customers with the appropriate data integration solutions and practices
  • Data integration leads to operationalized analytics in banking, as it enables banks to break down internal silos and internalize analytics-driven decision making

40. Increase customer loyalty with data integration


Cognizant Technology Solutions is a leading global IT and business process outsourcing services provider. Their white paper, Creating a Banking Experience that Keeps Customers Coming Back, explains how banks use customer insights to better engage customers and prospects. The key to seamless, consistent experiences at every touchpoint is data integration.

Three key points we like from Cognizant:

  • Banks need to meet and exceed customer expectations, and data integration gives them the complete view of the customer that is required to do so
  • Data integration processes need to include digitizing and coordinating processes among front, middle, and back office processes and systems
  • Data integration requires a change to a bank’s culture and business processes but results in deeper customer relationships, more successful cross sell, and lower attrition

41. Data integration involves new technologies and strategic trends to meet evolving customer expectations


Designit grows businesses by designing meaningful experiences for humans that are enabled by technology. As their SlideShare, Challenges for the Future of Retail Banking demonstrates, digital transformation in retail banking involves new enabling technologies, new customer expectations, and new strategic trends. The bond between these three trends is data integration.

Three key points we like from Designit:

  • Increasing choices in banking, such as digital services and mobile banking, have given customers an advantage, which has altered their expectations
  • Data integration helps banks cater to customers and meet their new expectations
  • Data integration enables banks to extract more value from their data, to show customers the big picture, empower customers, and open new revenue sources

42. Data integration as a driving force behind digital transformation in banking

Tapestry Networks and EY

Tapestry Networks joins together leaders from the private and public sectors to design innovation and new approaches to leadership and governing. EY is a global leader in assurance, tax, transaction, and advisory services. Together, Tapestry Networks and EY present ViewPoints from the Bank Governance Leadership Network, a publication that examines digital transformation in banking and the data integration that makes it possible.

Three key points we like from Tapestry Networks and EY:

  • Improved efficiency and effectiveness of processes and information technology is essential for digital transformation, making data integration a key component
  • Data integration helps banks respond to changing customer preferences and expectations
  • Data integration enables banks to differentiate customer service and develop customer relationships

43. Big Data and data integration help banks meet business goals

Network World

As a premier provider of news, intelligence, and insight for network and IT executives, Network World helps enterprises stay connected. In their Network World article on Big Data and data integration, Accenture’s Vince Dell’Anno and Brian McCarthy examine how banks and financial service firms are using Big Data and data integration to meet business goals.

Three key points we like from NetworkWorld:

  • Banks that already use Big Data for innovative projects will see more growth and value if they implement data integration solutions
  • Determine a business objective or outcome and determine how data integration will help your bank achieve it
  • Shorten technology and business planning cycles with data integration solutions

44. Data integration is a necessary component of acquisitions and mergers

Bank Director

Bank Director is a leading resource for the financial industry. Dave Keever’s Bank Director article, Handling One of the Biggest Headaches in Acquisitions: Data Integration, urges banks not to underestimate the data integration challenges that arise from bank acquisitions. As Keever points out, even acquisitions of sound institutions require data integration.

Three key points we like from Bank Director:

  • A systematic, methodical approach to data integration is in order for any type of merger or acquisition
  • Bank boards should require an overall data integration plan for each department’s main systems prior to agreeing to an acquisition
  • Leading data integration solutions can keep acquisition costs and complexity to a minimum

45. Gain an integrated customer view with data integration solutions


Wipro is a global leader in consulting, technology, and outsourcing. Philip Watt and Peter Barnsley’s Wipro white paper, The Integrated Customer View, explains that many customer frustrations arise from the lack of an integrated customer view. Banks that deploy data integration solutions easily solve the problem of a fragmented customer view.

Three key points we like from Wipro:

  • Banks with data integration solutions offer complete, common customer views to each of their customer channels
  • When customer interactions are siloed, banks cannot offer an optimal customer experience
  • Data integration provides a unified customer view, even as banks undergo mergers and acquisitions

46. Data integration gives banks the single, complete view of customers that is key to customer centricity


KPMG is a leading data management consultancy firm that drives conversations on emerging business issues and opportunities. Their white paper, Customer Data Integration, explains that data integration is key to customer centricity.

Three key points we like from KPMG:

  • Companies looking to improve their top-line performance focus on customer centricity, the perfect customer journey, and seamless ordering and delivery
  • Knowing customers and offering them the right products and services in a timely manner rests on having a complete view of the customer
  • Data integration is at the core of gaining a single view of the customer

47. Data integration for data quality in banking

Insight Ecosystems

Insight Ecosystems has a proven track record of making banking clients more profitable through their platform that solves common banking business challenges. Their white paper, Data Quality and Integration in Banking, acknowledges that banks face the challenge of harnessing the potential benefits of their enormous amounts of customer data. Data integration improves the data quality and analytics for banks.

Three key points we like from Insight Ecosystems:

  • Banks require data integration to gain a complete view of the customer, through customer to customer, customer to account, customer to household and customer to business relationships
  • Data quality issues create business problems for banks
  • Data integration improves data quality and gives banks a 360-degree view of the customer

48. Data integration solves digital challenges for retail banks

Bain and Company

Bain & Company serves global clients on issues of strategy, operations, technology, organization, and mergers and acquisitions. The Bain Brief, The Digital Challenge to Retail Banks, explores the ways in which data integration solves digital challenges for retail banks. Data integration is especially important now that banks are investing in interactive tools for customers, apps for smartphones and tablets, and social media brand building.

Three key points we like from Bain & Company:

  • Digital technologies create more customer data that banks need to consolidate via data integration
  • Banks need to stay relevant with customers by understanding their behavior and making personalized offers that are driven by data integration
  • Data integration gives banks access to all of the touchpoints customers use, including digital and mobile banking and social media

49. Data integration gives banks the business intelligence they need


Efma is a global, not-for-profit organization created by banks and insurance companies to facilitate BDM connections. Together with EY, a global leader in assurance, tax, transaction, and advisory services, Efma presents The Intelligent Customer Experience: A New Approach for Banks, a data integration white paper.

Three key points we like from Efma and EY:

  • Data integration increases the value of using analytics to improve customer experience in banking
  • It is more important now than ever before for banks to understand and improve the quality of customer experience, and they can do so with the complete business intelligence that results from proper data integration practices
  • A better, data-driven customer experience results in increased customer loyalty and advocacy and revenue

50. Big Data and data integration aid banks in predicting customer behavior

Computer Weekly Paul GarelJones

Computer Weekly offers breaking news and trends in IT. In his Computer Weekly article, How the Financial Services Sector Uses Big Data Analytics to Predict Client Behaviour, Paul Garel-Jones explains that Big Data and data integration are helping banks predict customer behavior to offer more personalized service.

Three key points we like from Computer Weekly:

  • Banks are learning to use data integration to harness the breadth and depth of data available
  • Banks face enormous potential when they utilize data integration to enhance their analytics and shape their business strategy
  • Banks that ensure the integrity of their data with data integration gain a competitive edge