Business groups within a bank have their own way of defining enterprise terms and metrics. For example, in commercial real estate lending, business group refers the security type as “Collateral-Right” whereas finance group refers the same metric as “Lien Position”.

This means that two groups generate two different data elements for the same business term. This problem gets magnified when such duplication applies across 20,000 such enterprise terms. This gets further complicated when regulators prescribe yet a different terminology to define terms meaning the same thing.

The Challenge:

Banks urgently require the ability to refer to the same data element via multiple definitions when applied in specific business context. This will allow banks to align their business term Glossary with regulatory reporting taxonomies without disrupting their present business practices.

How we can help:

Parabole’s approach, allows multiple business terms for the same data element to co-exist without changing the way business operates today.

Enterprise Data Governance