Data

Fast-moving businesses are rapidly redesigning their vision to value data environment as they seek to drive growth through insight and trusted data-informed decisions

Organisations have more data than ever before

In the past, data management operating models were simply not built for the scale and dynamism required in today's financial services ecosystem. Creating the right environment to drive growth, differentiate and gain an advantage over the competition requires a new way of thinking. NextWave experts bring together the business context and understanding of how to apply technology, AI and analytics tooling across the data lifecycle that is needed to create trusted data, enable confident speedy decisions, and unlock the value of data as an asset.

Our Quantexa team brings together both deep experience in implementing Contextual Decision intelligence outcomes alongside technical capabilities to deliver outstanding business outcomes on the Quantexa platform.

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Our Quantexa services

Common challenges when designing a data strategy

It is not easy to create and maintain an effective data strategy that enables an enterprise with trusted data, as well as the ability to take decisions with confidence. Establishing a clear business vision, goals and objectives is fundamental to a comprehensive and agile data capability framework. Common challenges that we can help you overcome are:
Lack of data governance
  • Identify the stakeholders that the organisation needs to be involved in the data governance process
  • Define and agree on a data governance framework and assign roles and responsibilities
  • Establish clear policies and procedures for data management to avoid data storage, data access, data quality and security and privacy issues
Rapidly evolving technology
  • Assign responsibility for exploring and implementing new technologies
  • Ensure that employees are continuously learning and updating their skills to keep up with the latest technological advancements
Limited data skills & literacy
  • A lack of necessary data literacy skills to effectively manage and analyse data can lead to errors, inconsistencies and data misuse
  • Conduct a data literacy skills assessment of employees and, based on results, develop and implement a targeted training program to improve their ability to manage and analyse data effectively
Data fragmentation
  • Data that is siloed in different business lines, departments or systems can be difficult to integrate and standardise, making it challenging to ensure consistency and accuracy, whilst also impairing its availability in effective and timely decision-making
  •  Assess your overall master data management framework to help eliminate data silos, streamline operations and improve data sharing
Data growth
  • Data operating models are often not able to scale to take advantage of the ever-increasing volume of structured, semi-structured and unstructured data
  • Review your cloud and data service strategy, alongside your use of automation tools and techniques
  • To get the most out of structured, semi-structured and unstructured data, evaluate your data analytics capabilities​
Lack of executive buy-in
  • Senior leaders have backed multiple initiatives that have fallen short of expectations – securing the necessary resources for a new or updated data framework can prove challenging
  • Ensure the involvement of the senior leadership and engage with key stakeholders in the development and management of the strategy
  • Break the data strategy down into smaller, more manageable components and prioritise them based on their criticality to the organisation's success​

Case Studies

Our clients have realised development improvements and transformed their timelines, speeding up their processes.

 

View all case studies

Big data engineering

Data | Banks
Read

Data strategy for a global reinsurance business

Data & Strategy | Insurers & Growth Companies
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Trade based money laundering detection

Data | Banks
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Using decision intelligence to identify prospective customers

Data | Banks
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Data and technology strategy for an insurance and technology group

Strategy | Insurers & Tech
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 Unstructured data: ESG news scanner

Data, Digital & ESG Transformation | Tech
Read

Using Quantexa to understand your ESG exposure using network analytics

Data & Sustainable Finance | Tech
Read

Trade anti-money laundering for a major Japanese investment bank

Data | Banks
Read

Corresponding banking: Improving Transaction Monitoring Controls (TMC)

Data | Banks
Read

Entity Resolution Health

Data | Banks
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Methodologies - The Nexus Playbook

NextWave’s unique delivery methodology, The Nexus Playbook, contains the process steps and deliverables we use to develop and execute a strategy.

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Discover

Rapidly identify current state – business objectives/pain points & opportunities, stakeholders, organisation, processes, data, technology.

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Visualise

Definition of target state business footprint, capabilities and requirements, business targets & KPIs, solution concepts & roadmaps.

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Evaluate

Identify, evaluate & choose from business case & solution options, deployment approaches, service designs & implementation plans.

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Design

Business case & delivery plan detail – services, solution, technology, data, operating model detail architecture & design.

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Deliver

Service & product build – data, application and infrastructure integrations & testing. Deployment & operation.

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Leverage

Benefits realisation & KPI measurement. Backlog and next phase opportunity review & prioritisation. Lessons learnt. Communicate & leverage.

Learn more about the NextWave methodology

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Our data focus areas

We help our clients define and optimise their data vision, strategy and roadmap by focusing on these key areas.

strategy, plan, success, increase

Data strategy

Do you have a strategy for your data? 

We evaluate your data strategy, defining whether it is clear and if it aligns with your overall business strategy and goals.

bank, museum, balance, finance

Data governance

How well do you manage and control data assets?

We assess whether you have well-supported policies, standards, and procedures in place to help you optimise and manage data assets, including data quality, privacy, security, and compliance.

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Data technology & tooling

How robust is the business's data infrastructure, including data storage, processing, and analysis capabilities?

We work with a host of cutting-edge technology partners and solutions, using this knowledge to help benchmark your capabilities.

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Data skills & data literacy

Does your team have data literacy skills? 

In training your staff to understand data literacy, they will be able to effectively manage and analyse data, avoiding errors, inconsistencies, and data misuse. 

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Processing & using data

How advanced is your data analytics capability?

In assessing your capability, we will include the use of predictive and prescriptive analytics to drive business insights and innovation.

bulb, light, idea, shine

Data solutions

Are you taking advantage of NextGen solutions?  

We partner with an extensive set of ecosystem data solutions. Through our Quantexa Alliance Partnership and highly skilled team, we deliver best-in-class contextual decision intelligence solutions across multi-domains and use cases. 

Our data technology partners

In today’s data-driven world, technology solutions are crucial in defining a modern, data-focused organisation. They play a vital role in defining a modern data-focused organisation by enabling efficient data collection, processing, analysis, and communication, ensuring data security and increasing productivity through automation. NextWave leaders have extensive experience of applying technology to vision and strategy and we have partnerships with some of the leading global data-focused fintech solutions.

NextWave Data Perspectives

NextWave & Quantexa Interview: DI & KYC supply chain transformation
Transformation
Maya Kokerov
Maya Kokerov
Knowing your customer (KYC) has never been more important. To gain an edge, you need improved operational efficiency, agility and speed, better threat protection, and enhanced ...
Maya Kokerov
Maya Kokerov
Read

How to accelerate innovation using Synthesized
Data
David Aston
David Aston
Introducing Synthesized Synthesized enables best data practices with AI-powered data products, 100% eliminating compliance risks. Powered by cutting-edge AI, the platform is a ...
David Aston
David Aston
Read

Fraud during COVID
Data
David Aston
David Aston
NextWave has partnered with Quantexa to identify the different types of prevalent fraud Perspectives / Fraud during COVID
David Aston
David Aston
Read

Focus your strategy, set your plan and modernise your business.

Our services

Our experts

Our team have a deep understanding of the challenges and opportunities of data-driven innovation in financial services. We work with clients to define data governance frameworks, data quality standard and data integration processes that support the creation of a comprehensive data architecture. We have a team of engineers who can help you apply our partner technology solutions to streamline your data storage, processing, and analysis. By partnering with us, financial services organisations can gain a competitive edge by leveraging data insights to improve operational efficiency, drive innovation and deliver personalised customer experiences.

Schedule a discussion
Iain
Iain Ivey
Co-Practice Lead (UK)
phils-1-150x150
Phil Sturmer
Co-Practice Lead (UK)
Tobypic-1
Toby Cullen
Practice Lead (NL)
chase-transparentBW
Chase Kirsten
Quantexa Lead (NL)

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