Data is becoming a bank’s biggest asset. These complex enterprises have a huge opportunity ahead – to transform themselves to become a trusted hub of a much broader data ecosystem that goes beyond the financial industry and helps to form a new class of cross-industry experience architectures that are scalable and transparent. The data physics that is needed for such emerging systems runs on consent and privacy preservation rather than black-boxed data lakes. A foundation for making this happen lies in the ability to use distributed, heterogenous data effectively and transform it into experiences that are relevant to the customer. These new experience architectures are following design patterns that are more participatory and consent-based than blindly personalized.
