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Insights and Expertise

Free data from silos Get a birds-eye view – link data across
organizational structures
to enjoy the full A successful business is not just about possessing vast

amounts of data; it’s about transforming and transmitting
potential of gen-AI data in real time, delivering valuable insights and enabling
smarter operations.

Many banks are hampered by data silos, which occur
when information is stored in isolated systems that do not
communicate with each other. This creates a fragmented
view of the customer or business as a whole, resulting in
inconsistencies, inefficiencies and a lack of comprehensive
datasets.

As long as data from various departments such as
customer service, risk management and transaction
processing remain siloed, banks cannot fully leverage
AI’s capabilities to analyze patterns, predict outcomes and
automate processes. Without the transformative benefits
of generative AI, banks miss out on new opportunities to
drive innovation and enhance operational efficiency.

By Floyd Davis FIs need to look at the unified control of their data, which
ensures consistency, accuracy and efficiency in data
Solace handling across all departments. Beyond that, they also
need to ensure that this data is streamed and routed in
inancial services leaders see great potential in real time, for actionable and timely insights. After all,
generative AI. A study from EY-Parthenon (see having an AI act on outdated information will result in
https://bit.ly/4740o7M) canvassed executives at the AI-generated output being untimely or irrelevant, and
F retail and commercial banks about where they require more human interference to rectify.
believe generative AI (gen-AI) will deliver the most value
in their organizations. Enabling greater productivity by To initiate the evolution of banking systems towards
automating sales-related activities was listed by two- unified control, banks need to adopt a more event-driven
thirds of respondents, followed by enhancing existing approach to their data integration strategies. Underpinned
technological capabilities (63 percent), then accelerating by an event-driven architecture (EDA) platform, this
broader innovation (54 percent). real-time integration and distribution approach ensures

smooth data flow across the organization, reducing
But while financial institutions (FIs) recognize the latency and enhancing operational efficiencies.
transformative potential of generative AI, they are
struggling to capitalize on it due to their legacy technology Deliver data to the right place with an event mesh
infrastructures. These systems, often characterized by
siloed data and slow processing speeds, create significant Traditionally, banks have operated using a request-driven
barriers to AI adoption. model where a rigid architecture defines tasks. These
systems efficiently handle simple and predefined tasks
To fully harness the power of generative AI, banks must but fail to react to the variable demands of the digital era.
break down data silos and adopt a real-time, event-driven
approach. Only then can they generate the actionable In this AI era, the key lies in establishing a continuous flow
insights needed to make informed decisions, enhance of information across the entire business and extending
customer experiences, and stay ahead of the competition. to and from customers. An event mesh enables precisely
that – facilitating real-time, event-driven communications
The ability to convert data into actionable insights is between systems and services across environments and
crucial for future success. Banks that embrace an event- geographies.
driven strategy will be able to achieve precise AI analyses,
uphold data integrity, and quickly disseminate actionable FIs must be able to absorb and manage bursts of activity
insights which are crucial to decision-making. Essentially, while ensuring data reliability and uptime, as even a
integrating an event mesh with AI will foster ongoing few minutes of downtime can be devastating, leading
innovation and prepare digital-first banking institutions to significant loss of customer satisfaction and financial
for the future. damage.

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