One of the most pressing issues facing companies in the payments industry is how they handle their data. Since financial transactions and services generate large amounts of data, financial institutions need to have a robust system in place to effectively process, analyze, and store the information.
Security is paramount, as the data is highly sensitive, and hackers are constantly trying their utmost to access it. And due to how valuable and sensitive the data is, companies must comply with a myriad of government regulations dictating acceptable practices. It’s essential that companies understand where their data comes from and how to maintain it properly.
To learn more about the importance of data governance, data management, and what solutions exist to help companies navigate the problems associated with data handling, PaymentsJournal sat down with Adwat Joshi, founder and CEO of DataSeers, and Tim Sloane, VP of Payments Innovation at Mercator Advisory Group.