Fast-moving businesses are rapidly redesigning their vision to value data environment as they seek to drive growth through insight and trusted data-informed decisions Organisations have more data than ever before In the past, data management operating models were simply not built for the scale and dynamism required in today's financial services ecosystem. Creating the right environment to drive growth, differentiate and gain an advantage over the competition requires a new way of thinking. NextWave experts bring together the business context and understanding of how to apply technology, AI and analytics tooling across the data lifecycle that is needed to create trusted data, enable confident speedy decisions, and unlock the value of data as an asset. Our Quantexa team brings together both deep experience in implementing Contextual Decision intelligence outcomes alongside technical capabilities to deliver outstanding business outcomes on the Quantexa platform . Common challenges when designing a data strategy Identify the stakeholders that the organisation needs to be involved in the data governance process Define and agree on a data governance framework and assign roles and responsibilities Establish clear policies and procedures for data management to avoid data storage, data access, data quality and security and privacy issues Assign responsibility for exploring and implementing new technologies Ensure that employees are continuously learning and updating their skills to keep up with the latest technological advancements A lack of necessary data literacy skills to effectively manage and analyse data can lead to errors, inconsistencies and data misuse Conduct a data literacy skills assessment of employees and, based on results, develop and implement a targeted training program to improve their ability to manage and analyse data effectively Data that is siloed in different business lines, departments or systems can be difficult to integrate and standardise, making it challenging to ensure consistency and accuracy, whilst also impairing its availability in effective and timely decision-making Assess your overall master data management framework to help eliminate data silos, streamline operations and improve data sharing Data operating models are often not able to scale to take advantage of the ever-increasing volume of structured, semi-structured and unstructured data Review your cloud and data service strategy, alongside your use of automation tools and techniques To get the most out of structured, semi-structured and unstructured data, evaluate your data analytics capabilities​ Senior leaders have backed multiple initiatives that have fallen short of expectations – securing the necessary resources for a new or updated data framework can prove challenging Ensure the involvement of the senior leadership and engage with key stakeholders in the development and management of the strategy Break the data strategy down into smaller, more manageable components and prioritise them based on their criticality to the organisation's success ​ Our clients have realised development improvements and transformed their timelines, speeding up their processes. Big data engineering Data strategy for a global reinsurance business Trade based money laundering detection Using decision intelligence to identify prospective customers Data and technology strategy for an insurance and technology group Unstructured data: ESG news scanner Using Quantexa to understand your ESG exposure using network analytics Trade anti-money laundering for a major Japanese investment bank Corresponding banking: Improving Transaction Monitoring Controls (TMC) Entity Resolution Health Methodologies - The Nexus Playbook NextWave’s unique delivery methodology, The Nexus Playbook, contains the process steps and deliverables we use to develop and execute a strategy. Rapidly identify current state – business objectives/pain points & opportunities, stakeholders, organisation, processes, data, technology. Definition of target state business footprint, capabilities and requirements, business targets & KPIs, solution concepts & roadmaps. Identify, evaluate & choose from business case & solution options, deployment approaches, service designs & implementation plans.

Business case & delivery plan detail – services, solution, technology, data, operating model detail architecture & design. Service & product build – data, application and infrastructure integrations & testing. Deployment & operation. Benefits realisation & KPI measurement. Backlog and next phase opportunity review & prioritisation. Lessons learnt. Communicate & leverage. Learn more about the NextWave methodology Our data focus areas We help our clients define and optimise their data vision, strategy and roadmap by focusing on these key areas. Do you have a strategy for your data? We evaluate your data strategy, defining whether it is clear and if it aligns with your overall business strategy and goals. Data governance How well do you manage and control data assets? We assess whether you have well-supported policies, standards, and procedures in place to help you optimise and manage data assets, including data quality, privacy, security, and compliance. Data technology & tooling How robust is the business's data infrastructure, including data storage, processing, and analysis capabilities? We work with a host of cutting-edge technology partners and solutions, using this knowledge to help benchmark your capabilities. Data skills & data literacy Does your team have data literacy skills? In training your staff to understand data literacy, they will be able to effectively manage and analyse data, avoiding errors, inconsistencies, and data misuse. Processing & using data How advanced is your data analytics capability? In assessing your capability, we will include the use of predictive and prescriptive analytics to drive business insights and innovation. Are you taking advantage of NextGen solutions? We partner with an extensive set of ecosystem data solutions. Through our Quantexa Alliance Partnership and highly skilled team, we deliver best-in-class contextual decision intelligence solutions across multi-domains and use cases. Our data technology partners In today’s data-driven world, technology solutions are crucial in defining a modern, data-focused organisation. They play a vital role in defining a modern data-focused organisation by enabling efficient data collection, processing, analysis, and communication, ensuring data security and increasing productivity through automation. NextWave leaders have extensive experience of applying technology to vision and strategy and we have partnerships with some of the leading global data-focused fintech solutions. NextWave Data Perspectives Integrating CDD controls into transaction monitoring with Quantexa Bridging the gaps to self-sufficiency in Quantexa deployments NextWave & Camunda partner to deliver AI-driven, governed process orchestration in FS NextWave & Quantexa Interview: DI & KYC supply chain transformation How to accelerate innovation using Synthesized Fraud during COVID Focus your strategy, set your plan and modernise your business. Our team have a deep understanding of the challenges and opportunities of data-driven innovation in financial services. We work with clients to define data governance frameworks, data quality standard and data integration processes that support the creation of a comprehensive data architecture. We have a team of engineers who can help you apply our partner technology solutions to streamline your data storage, processing, and analysis. By partnering with us, financial services organisations can gain a competitive edge by leveraging data insights to improve operational efficiency, drive innovation and deliver personalised customer experiences. Interested in digital acceleration? Subscribe to NextWave for occasional email updates on the latest technology, acceleration approaches, news and NextWave events. You can unsubscribe from these communications at any time. Subscribe for our latest updates