Bank of Zurich is a multinational financial services company with operations in more than 50 countries. The bank is organized into three major lines of business: Investment Banking, Private Banking, and Asset Management. 


  • Business situation
  • Problem statement

Without a defined global data strategy, Bank of Zurich has stagnated in terms of product globalization, business growth, banking controls efficiency, and business processes. The bank is currently supporting a number of data projects that are not addressing the full set of organizational challenges. The Bank of Zurich CIO wants to holistically evaluate the organization’s data management strategy and evaluate both emerging and package solutions that will enable the organization to federate its enterprise data.


The Bank of Zurich’s CIO has identified gaps in the organization’s enterprise data management strategy and changes to both the technical and business solution are necessary. Today, information governance and ownership is siloed within individual business units, resulting in issues of fidelity, duplication, and latency. The organization is concerned their data management investments are siloed and don’t address the need to provide a “single version of the truth.”

The Bank of Zurich’s CIO has asked Deloitte to assist in structuring the organization’s data program and connecting initiatives more explicitly to business objectives. This engagement will require not only a comprehensive assessment of the bank’s current-state operations, but also the development of a detailed transition plan to provide a roadmap for the organization. The lack of a single global data strategy has resulted in a regional misalignment of people, process, and technology. The absence of a unified strategy to support the use of reference data has become a significant impediment to the bank’s growth.


The CIO is interested in a specific trade execution scenario, where the trade flows through several of the bank’s platforms for order capture, compliance, execution, accounting, settlement, reconciliation, and reporting functions. Static product information such as security type or counterpart name must be set up consistently across all these systems for the trade to be executed and accounted for correctly. In best-in-class organizations, all static information is consolidated in a shared database and referenced across the shared services. With the different lines of business structured into silos, however, the Bank of Zurich’s individual systems store such information locally, thereby causing inconsistencies and disconnects between platforms.


The Bank of Zurich’s CIO has enlisted Deloitte to develop a strategy for improving the organization’s processes to align its different lines of business. The account lead has asked for you to help lead the project and consider the following:


  • There are a number of siloed reference data projects underway that do not address the full set of data challenges facing the bank.
  • The bank needs to connect data challenges and initiatives more explicitly to business objectives and make this a business-driven initiative.
  • The CIO has requested for critical implementation tasks to be identified and major concerns highlighted in the project road map.