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Digitalization in the banking sector: the case of data management at Degroof Petercam

Cornesse, Edouard
(2022)

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Cornesse_30401700_2022.pdf
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Details

Supervisors
Lejeune, Christophe
Faculty
Louvain School of Management
Degree label
Master [120] : ingénieur de gestion, à finalité spécialisée
Abstract
This research examines how data management, in the context of digitalization, affects processes within the private bank Degroof Petercam. To that purpose, we will first outline a scientific approach to the many notions of digitalization in a banking context, the significance of data use, and the influence of proper data management on a bank's procedures. Even if the industry is continually changing, we will gain a deeper understanding of the significance of employing data on a regular basis. We will analyze the influence of data management across five major axes by examining the specific situation of a Belgian private bank in a qualitative study. As a result of a continuous improvement process, a more tailored product, and a better digital contact with the client, new perspectives have evolved. The impact on management and structure is also important, notably on having a coherent digital culture, decentralization of the digital department or the creation of new functions linked to data. The regulatory aspect has been affected through increased security to prevent possible risks concerning information. Data quality is also a significant consideration when identifying threats such as fraud, data leakage, or transaction traceability. Finally, the bank is putting data at the center of their business by investing in new systems to improve technical efficiency, information interchange fluidity, and current infrastructure.