2016 Winner Profile

CIT Group, Inc.

Project Description:
CIT Group's acquisition of OneWest Bank officially made it a Systematically Important Financial Institution (SIFI), which meant new regulatory oversight and requirements for managing data. To comply, the company built a modern data architecture to provide the agility necessary to integrate new source systems, enrich and monitor the data they manage, and publish interfaces to provision certified data to downstream consumers. At its core was a Data Services Layer (DSL) powered by data virtualization, which has helped the company achieve a faster time to market and minimize data replication and proliferation. In addition, the company saw a 30 percent reduction in time that typically would have been spent manually reconciling data, and has successfully complied to SIFI regulatory standards.
Business Functions:
Accounting & Finance, IT, Other
Business Goal:
Competitive Advantage, Financial, Regulatory Compliance , Security & Risk Management, Strategic
Stacey Goodman, CIO
Livingston, N.J.
Financial Services (e.g. Banking, Broker and Dealers, Exchanges)
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