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Data Quality in Banking System: Case of Azerbaijan

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  • Ali Dadashzade

Abstract

Data quality in banking and financial sector is one of the most researched topics nowadays. With the increasing regulatory burden and increased importance of targeted sales, data quality directly influences funds and performance of banking system. In this paper, the author is aiming to define universal reasons and causes of data quality problem and apply the case to local Azerbaijani banks taking into account local managers’ personal view based on their banking experience. Key finding of the research is that unintegrated software, wrong data insertion, aging of data with the growing speed of market, corporate governance and inability to calculate true costs of low data quality to the local banks are the reasons of data quality issue in the local banks. Moreover, main costs of the data quality issue are time and money, appearance of hidden data factories, obstacles to apply and measure KPIs, uncorrelations in sensitivity analysis and ineffective marketing strategies.

Suggested Citation

  • Ali Dadashzade, 2018. "Data Quality in Banking System: Case of Azerbaijan," International Journal of Finance & Banking Studies, Center for the Strategic Studies in Business and Finance, vol. 7(2), pages 1-8, April.
    • Handle: RePEc:rbs:ijfbss:v:7:y:2018:i:2:id:8
    DOI: 10.20525/ijfbs.v7i2.877
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    References listed on IDEAS

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    1. Bonollo, Michele & Neri, Massimiliano, 2012. "Data quality in banking: Regulatory requirements and best practices," Journal of Risk Management in Financial Institutions, Henry Stewart Publications, vol. 5(2), pages 146-161, March.
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