Data and analytics

The challenge

Data is everywhere, but it is the quantity, complexity, quality and relevance of data to inform actionable and accurate decisions that
is critical.

Decision-making approaches are shifting as a direct result of data-driven insights, with over 65% of executives in Banking and Capital Markets for example claiming to have changed their approach.

However, this growing data revolution also brings challenges of a new kind. Many businesses are struggling to cope with the exponential increases in the data they now gather along with the ever increasing burden of regulations and compliance. Simply storing, managing, accessing and safely maintaining data as the law requires is a major challenge. This means that the cost of turning data into intelligence is becoming a hindrance to business agility for many, as is the need for high quality data analytics to prove compliance in a more complex and tightly regulated market.

Firms are struggling to safely manage, govern and operationalise their data assets to drive timely decisions and accurately meet their compliance obligations.

The ongoing regulatory agenda and now with the increased challenge of GDPR and Brexit are just two new areas where the importance of a data driven strategy has been highlighted, but clearly the scale and reach of data analytics is far greater.

Our services

We understand all aspects of the data challenge and are proven in the use of data to drive both executive insights and meet compliance. Building on the leadership of our emerging technologies practice, we are using advanced innovative capabilities to unlock new areas of value from data and embed leading analytical techniques through Artificial Intelligence (AI), Machine Learning (ML) and robotics to automate decisions.

Our leading data analytics practice delivers solutions to address today’s most urgent needs, while helping businesses become ready to face the future.

Data strategy support, implementation and proactive assurance

We help clients develop and sustain effective data management strategy aligned to the business or helping firms provide ongoing and proactive assurance over their data strategy implementation.

  • Assist with the gathering of strategic data requirements across the bank;
  • Work in partnership to develop and agree the bank-wide data strategy;
  • Accelerate the development of the bank data management policy; and
  • Agree the priority roadmap for the implementation of the investments to develop the data and analytics within the bank.

In addition we work with clients to demonstrate the implementation of their data strategy from across the firm and how well the strategy is operationalised.
Proactive Data Strategy Assurance - Providing an ongoing set of independent reviews of your data management capabilities and maturity metrics as part of your strategy implementation.

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Enterprise data management, governance and data quality

Organisations are becoming increasingly reliant on data to drive commercial decision-making, operational efficiencies and address regulatory requirements. However, many organisations struggle to build the necessary underpinning data governance capability. PwC’s offer its expertise in Data management, governance and quality to ensure its clients are in compliance with the latest regulations.

  • Supporting the design, build and implementation of required data capabilities including control frameworks, data quality monitoring, and enhanced reporting across the organisation
  • Enabling the adoption of data governance and controls programmes to
  • In data quality we help firms to better understand the data quality KPIs, rules and an ever increasing use of Artificial Intelligence ( AI) and Machine Learning (ML) in data quality.

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Advanced analytics and machine learning

We unlock insights from data to predict what may happen in the future through advanced
analytics, machine learning and experimentation

We operationalise emerging technologies to drive faster decisions through analytics helping firms to understand the data, how to look to get a return on their investment and to help put effective governance around new technologies such as Machine Learning.

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Transaction reporting assurance and review

Financial institutions have a regulatory obligation to report trade and transaction information to their relevant authority on a daily basis. The reporting regimes include MiFID II, Dodd-Frank & EMIR2.0 amongst others.

We are able to help out clients by way of detailed testing (of both data, technology, processes and controls) we can review current TR implementations to identify reporting errors and deficiencies and make recommendations based on our findings.

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Data driven regulatory compliance

We help our clients address their regulatory challenges where data plays a significant part such as BCBS239, COREP, Solvency II and Algo trading.

We have developed a number of diagnostic solutions to help clients address their control and compliance reporting across Transaction, Conduct and Prudential reporting.

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GDPR

The General Data Protection Regulation is creating highly technical and operational challenges, requiring everyone in Financial Services to take action. But it also represents a major opportunity to transform your approach to privacy, harness the value of the data you hold and ensure daily operations are fit for a digital economy. This is the largest change to data protection legislation in the last 20 years, which will result in wide scale data privacy transformation requirements across every organisation.

Our GDPR framework will guide you through the GDPR compliance process from understanding your initial exposure through to remediation planning and implementation using a unique risk based approach, and our unmatched regulatory compliance experience.
Since Go-live in May 2018 we are also look to help our clients with their ongoing GDPR programme around on-going GRPR review and assurance.

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Explore how else we can help you with business-led technology transformation

Accelerate digital transformation in financial services

Services

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Navigate risk and regulation in financial services

Services

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Contact us

Nick Bouch

Head of Assurance Data & Analytics, PwC United Kingdom

Tel: +44 (0) 7703 563 564

Leigh Bates

UK FS Data Analytics Leader, PwC United Kingdom

Tel: +44 (0)7711 562 381

Rav Hayer

UK FinTech lead, PwC United Kingdom

Tel: +44 (0)7841 468 296

Craig Skinner

Insurance Data & Analytics Leader, PwC United Kingdom

Tel: +44 (0) 7734 974 406

David Marriage

Asset & Wealth Management Data & Analytics Leader, PwC United Kingdom

Tel: +44 (0)7941 670320

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