Data Privacy in Focus: Navigating
the Challenges in the Banking Sector
How can modernising customer data systems unlock unprecedented business potential?
- On: July 18, 2024
Hannes Rutqvist
Senior Vice President, Head of Customer Information Services
DNB
How do you use customer data to drive business insights and improve decision-making?
As the business responsible for the customer data platform, it’s my job to ensure the group gets the most from the customer data we have. “From bottleneck to enabler” has been our motto over the last few years, providing better and better services. To improve decision-making and gain insights, we have adopted a decentralised data ownership model and provide data products for analytics, as well as events and APIs for customer data.
Can you share an example of a challenge you faced related to data privacy, and how you overcame it?
With increased focus on KYC, our bank had to re-identify millions of customers some time ago. One challenge was identifying minors. Could we ask the parents to visit an office in the middle of the summer? With improved customer data services, including the use of digitalised birth certificates from public registers, we managed to identify the minors automatically and become KYC compliant.
What trends do you see shaping the future of customer information services in the banking industry?
There is no doubt that the importance of customer information has increased in all corners of the organisation. There is a wave of new regulations coming our way, introducing both threats and opportunities, such as open finance. The common denominator of these changes is having control within your own organisation. This can make the difference between a threat and an opportunity. Additionally, we are all beginning to realise the magnitude of the AI revolution – but it won’t happen without good customer data.
Dive deep into the informative case study: “Building Excellent Products on Unstable Ground”, presented by Hannes Rutqvist!
Join our 11th Annual Product Development Excellence in Banking Summit, 1 – 2 October 2024 at Rainers Hotel Vienna.
Short Speaker BIO:
Hannes Rutqvist has been working in the borderlands of business and tech for many years. Starting as an IT project manager and later business developer and business architect, he is now heading a unit responsible for the core modernization of customer data systems in DNB.
“It may sound dull, but it’s really super exciting, the benefit potential is gigantic!” Hannes says.
He’s a father of three and enjoys a really cold winter with all the activities that come with it, while summer is best spent in the family’s RV on new adventures.
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