Faced with increasingly complex regulatory obligations, a leading Mutual Bank engaged Alchemy Solutions to strengthen its data management capabilities, ensuring compliance, boosting operational efficiency, and enabling the adoption of emerging technologies.
Over a six-week engagement, Alchemy implemented the DAMA DMBOK framework to conduct a comprehensive data maturity assessment aligned with the Australian Privacy Principles (APPs). This assessment formed the foundation for a phased data governance roadmap, designed to support the bank’s 10-year strategic vision and meet Australian Prudential Regulation Authority (APRA) standards.
The engagement delivered a clear target state for banking data architecture, enabling compliance readiness, operational uplift, and responsible AI adoption, ultimately reinforcing member trust and positioning the bank for long-term growth.
Like many financial institutions, this Mutual Bank encountered critical data governance challenges that affected both regulatory compliance and operational performance:
Without a structured approach to data governance, these issues posed serious regulatory risks, reduced operational efficiency, and prevented the adoption of transformative technologies such as AI.
To address these issues, Alchemy Solutions engaged with stakeholders across the bank to gain qualitative and quantitative insights and delivered a current state assessment providing target state insights and recommendations with a high-level roadmap, focusing on:
In response to rising regulatory pressures and operational inefficiencies, a leading Australian mutual bank partnered with Alchemy Solutions to modernise its data governance capabilities. The engagement focused on delivering a scalable, compliant, and AI-ready data strategy tailored to the bank’s long-term vision.
Alchemy Solutions implemented a data maturity assessment framework using the DAMA DMBOK v2 methodology. This benchmarked the bank’s current data capabilities and identified key areas for uplift, all completed within a six-week timeframe.
The engagement addressed critical compliance gaps under Australian banking regulation, including APRA CPS 234, CPS 230, APPs, and NIST Cybersecurity standards. The bank now operates with stronger financial services data privacy controls and reduced regulatory risk.
Alchemy delivered a strategic, phased data governance roadmap that integrates people, processes, and technology. This roadmap aligns with the bank’s 10-year strategy and supports a culture of data literacy and trust.
The project established a secure and scalable banking data architecture that supports advanced analytics and banking AI compliance. This enabled the bank to reduce manual processes, improve data quality, and unlock digital transformation opportunities.
Ready to address your data governance challenges? Schedule a confidential, obligation-free consultation with our experts to explore how Alchemy Solutions can help your organisation achieve APRA compliance and AI readiness, just as we did for this leading mutual bank.
Take the first step toward reducing risk and transforming your data governance strategy today.
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