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INESC TEC assesses the maturity level of Banco Montepio's data

INESC TEC completed the “Data Management Policy” project, whose main objective was to assess the maturity of Banco Montepio's data management process (Master Data Management - MDM) and its adequacy to the practices of the banking sector.

27th October 2021

In this sense, INESC TEC researchers assessed the maturity of the MDM process in terms of Data Governance, Data Strategy, Data Quality, Data Operations, Architecture & Platform and Support Processes. This assessment was part of a specific framework selected for this purpose – IBM Data Governance Maturity Model and Assessment –, leading to a concrete picture of the specific maturity of these processes, in the context of Banco Montepio's data management.

During the survey phase of the current situation, the conformity of Banco Montepio's MDM process with the principles defined in BCBS 239 (Basel Committee on Banking Supervision) was also assessed, as well as compliance with Notice No. 3/2020 of the Bank of Portugal.

The result of the work carried out was an Action Plan, with a strategic outlook for the management of Banco Montepio's data, comprising a set of initiatives and projects, whose implementation will fill the gaps between the current degree of data governance and the desired level for Banco Montepio.

This successful collaboration created opportunities for new collaborations with Banco Montepio, which are scheduled to take place over the next few years, even leading to a scientific paper (Risk Compliance and Master Data Management in Banking – A novel BCBS 239 compliance action-plan proposal) in the process of being published.

José Correia, Henrique São Mamede and José Luís Martins, researchers from INESC TEC’s Centre for Information Systems and Computer Graphics (CSIG) took part in this project.

The researchers mentioned in this news piece are associated with INESC TEC, Universidade Aberta and the AquaValor Collaborative Laboratory.