Philippine banks fall far short of properly managing their “data lineage,” according to the regional head of an enterprise solutions firm working with the country’s banking sector.
According to ASG Software Solutions, at a time when threats of fraud and money laundering are pushing regulators to implement stricter rules on “too big to fails” banks, it is vital for these big lenders to strengthen their “data lineage” or the data life-cycle process in their institution for them to be able meet international compliance standards to stay competitive.
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