Industry
Financial Services
Challenge
Nykredit faced critical business risks in the wealth, finance, and banking sectors due to fragmented data management systems, ungoverned data, and outdated customer information. The existing architecture lacked scalability and agility, necessitating a modern, cloud-first data management solution.
Results
By implementing CluedIn's MDM solution, Nykredit aim to significantly improve data quality, operational efficiencies, and regulatory compliance. The integration with Microsoft's ecosystem will accelerate development processes, enhanced data accuracy, and will open new opportunities for business growth.
Key Product
CluedIn MDM and Data Quality - PaaS
This will take us to a whole new level of mastering our data. Thank you CluedIn team for your dedication to the process. Looking forward to our joint journey – can’t wait to get started!
About Nykredit
Nykredit is a comprehensive banking institution based in Copenhagen, Denmark. With over $3 billion in revenue and millions of data records, Nykredit serves as a pivotal player in the wealth and banking sectors, focusing on delivering exceptional financial services to its customers.The Challenge
Nykredit, a leading Danish wealth services company, was facing significant data-related challenges that posed risks to its business. Master data was managed across several different systems, and a substantial amount of data lacked the desired level of governance. This fragmentation led to an incomplete and often inaccurate single view of the customer, hindering Nykredit's ability to deliver consistent financial services. Additionally, the existing architecture was rigid and lacked scalability, making it difficult to adapt to changing business needs.
The Solution
Recognising the need for a modern approach to data management, Nykredit chose CluedIn to support its shift to a cloud-first data transformation strategy. The decision process involved evaluating several solutions, but CluedIn's extensive integration with Microsoft Azure Data, Analytics, and AI services, along with its user-friendly features, made it the optimal choice. 'This will take us to a whole new level of mastering our data. Thank you CluedIn team for your dedication to the process. Looking forward to our joint journey – can’t wait to get started!' said Pernille Olling, Senior Vice President at Nykredit. By consolidating data from multiple sources, CluedIn helped Nykredit create single, trusted views of business domains, dramatically improving data quality and stakeholder trust.
The Results
The implementation of CluedIn's MDM solution will bring transformative results for Nykredit. Data quality will see a significant boost, enhancing reporting accuracy and stakeholder trust. Operational efficiencies will be achieved through the seamless integration with Microsoft’s ecosystem, accelerating development processes. The improved data accuracy will not only ensure better compliance and regulatory reporting but also open up new opportunities for up-sell and cross-sell initiatives.
Overall, CluedIn's solution will empower Nykredit to reduce risks and costs, driving business growth and fostering a more agile and scalable IT infrastructure.