Saxo Bank improves data governance with data mesh

Saxo Bank is a world-leading provider of online trading and investment. The bank has long recognized the importance of using data to drive decisions and improve customer experience. However, the bank needed to improve their data governance to gain visibility into data availability and establish trust in data quality.

Saxo Bank's existing data governance approach was centralized and siloed. This made it difficult to track data lineage and quality. It also prevented domain teams from taking ownership of their data. As a result, the bank was unable to fully leverage its data to improve customer experience.

Saxo Bank partnered with Thoughtworks to build a self-service data catalog and quality platform, Data Workbench. This platform was designed to give domain teams ownership of their data, improve data discoverability and enable federated data governance.

Implementation

Thoughtworks performed a thorough evaluation of commercial and open-source tools to meet Saxo Bank's business goals. They then integrated the chosen tools into the Saxo ecosystem and enabled data onboarding processes.

The data mesh approach adopted by Saxo Bank eliminates avoidable dependencies and incorporates a new business glossary of unified definitions for business terms across the organization. This allows for the easy search of data assets and their origins, providing users with clarity, building trust and improving governance.

Results

The implementation of Data Workbench enabled Saxo Bank to achieve:

● Improved visibility into data availability and quality

● Increased trust in data

● Empowered domain teams to take ownership of their data

● Enhanced data discoverability

● Enabled federated data governance

In addition to gaining much-needed visibility into data availability and trust in high-quality data, the client also gained brand recognition through open-source contributions to LinkedIn Datahub.