AlyData is in the business of providing CDO Advisory and Governance, Risk and Compliance services. In addition, we develop and implement Data Analytics, Data Science, and Cyber Security solutions for our clients. Our advisers have deep expertise in Financial Services, Federal Government, and Travel and Hospitality verticals, but are also able to offer the data management solutions to other industry verticals.
Financial Services & Banking
The first and most visible dimension includes the “current” or “hot” issues in the industry media and conferences. They typically revolve around the latest technology or political/regulatory trend, and while often urgent, are not always strategic. They tend to be the relatively fast-moving issues that change from year to year. The list includes:
incorporating mobile banking as a regular delivery channel,
developing a strategy around social media, and
coming to permanent resolution with the regulatory issues, such as Dodd-Frank, Basel and the CFPB -- dealing with the economic aftermath of the “fiscal cliff,” whichever way it turns out.
A second dimension of issues is more complex and more regular, involving those recurring financial and competitive industry issues that financial institutions deal with every year. Now, however, they are in a new economic context as the industry emerges from the financial crisis:
how to come to a new level of growth and sustainable profitability in an environment of low interest rates
rebuilding asset quality and strengthening their capital adequacy,
where to develop new and reliable sources of revenue,
enriching and increasing the business value of customer relationships, at a time when customer behaviors and expectations are more demanding,
restoring public confidence in the industry,
how to deal with aggressive and innovative non-bank competitors, and
embedding a risk management culture into the fabric and habit of daily operations.
A third dimension concerns the ever more critical need for financial institutions to transition their technology architectures to next-generation capabilities, putting in place the enablers for all the issues listed above. Banks, thrifts and credit unions now need to approach technology no longer as an expense to be managed down, but more as an investment for future growth. By focusing less on specific systems and applications, and more on enterprise-wide capabilities, they need to address such challenges such as:
implementing fully digital banking,
filling manual gaps and delivering straight-through, efficient business processes,
enterprise-level integration and management of data -- interactive customization of products and services to meet customer demands, and
transparency in costs, compliance and prices.
The emerging technologies of importance are therefore those that will enable the flexibility, adaptability, integration, standardization and efficiency that the transformation described above will demand.
Which is what brings us to the fourth dimension, and the one that in many respects is the most important. It involves the fundamental and strategic "below the radar" transformation of the banking business model that is taking place in the industry, and how institutions need to respond to it. Technology is and has been changing the currency of exchange in financial services away from a pure focus on money, which is actually now just a blip on a computer, and toward information as the basis of products and services. Financial institutions will need to become data-centric organizations, revolving their assets and processes around the needs of customers – no longer around the profitability of products and siloed business lines.
Competitive pressures, Advanced Analytics and Regulatory Compliance are the primary drivers for comprehensive Governance, Big Data and Cyber Security in Banking and Financial Services firms. AlyData advisors have a unique combination of Financial Services domain expertise and Big Data and Cyber Security execution - giving us a significant competitive advantage.
How do government and business leaders keep pace with change while ensuring cost efficiency and overall effectiveness? AlyData's data and risk management services and solutions help you achieve more with less.
Government organizations face increasing pressure to control spending while simultaneously improving services. In the public sector, agency leaders must manage their organizations for greater accountability, transparency, and spending effectiveness.
Major changes in regulations and constant audit pressures are putting a strain on agencies. Agency leaders are challenged to implement meaningful changes that improve government’s transparency, accountability, and performance.
At AlyData, we understand that effective leaders must manage competing priorities to achieve mission objectives. Our industry leading CDO Advisory, data science, analytics, cyber security, and GRC expertise help clients define and balance their strategic objectives to achieve their mission.
Travel & Hospitality
The travel and hospitaility industry is not only awash in data–it’s also inundated with mandates to make better use of that data. And yet, despite the incentives and the opportunity, the healthcare industry is struggling to turn that data into better, more efficient care.
The travel industry has lagged other industries in exploiting data. There are some good reasons for that, including the fact that 50 percent of data in travel is unstructured.
Attempts to extract meaningful information from unstructured data are notoriously difficult, especially when traditional tools, such as relational data stores, form the basis of the analytics platform.
The good news is that there’s a lot of low-hanging fruit that travel organizations can grab, given the right data tools.
Click on this link to view the comprehensive Big Data and Cyber Security services we provide in these areas. Please click on the CDO Advisory, Data Science, GRC, and the Cyber Security Services link to view our offerings.