ANZ Banking Group has successfully implemented a “unified data platform and architecture” for risk and regulatory reporting, a project that has been in the works for several years. In a recent blog post, Artur Kaluza, ANZ’s Head of Reporting and Modelling in the Risk Strategy and Transformation department, revealed that the bank intends to migrate and consolidate 100 separate on-premise systems into 55 cloud-based systems, all centered around a single risk data hub deployed on Google Cloud.
The purpose of this unified data platform is to enable ANZ to swiftly extract insights, enhance credit decision-making, improve credit risk understanding, and combat financial crime. Additionally, the insights derived from this platform will serve as a foundation for new product development initiatives.
ANZ has leveraged Google Cloud to establish this unified data platform and architecture, which fulfills the critical requirements of risk and regulatory reporting. Data is loaded into a high-capacity storage layer and processed using large-scale ephemeral compute resources. While BigQuery remains the underlying technology platform, ANZ has incorporated open-source tools to catalog the source data and provide transparent data lineage for reports.
To aid in the transformation and tracking of data lineage once it is ingested into the platform, ANZ has adopted the open-source data build tool (dbt) framework. Kaluza emphasized that this framework simplifies and enhances data lineage tracking, particularly when compared to the extended transformation sequences typically found in traditional reporting architectures.