The British Business Bank, the UK’s business development bank, has selected Solidatus to enhance its data governance and data lineage capabilities.
Solidatus is a metadata management technology firm whose data lineage solution helps companies to visualize and manage all their data from end to end.
In the case of British Business Bank, its programmes include the Coronavirus Business Interruption Loan Scheme (CIBLS) and the Bounce Back Loan Scheme (BBLS), introduced as temporary emergency measures during the COVID-19 pandemic.
The onboarding process developed by Solidatus not only was deployed in record time, allowing the development bank to start using the data governance solution almost immediately but also makes it possible for the Bank to understand its data to address problems, make more informed decisions and minimize risk.
Stephen Whiteley, Data Director – Data Management Office, British Business Bank, commented: “Smaller UK businesses are providing world-leading technology which benefits both them and the UK economy. We’re pleased to be working with Solidatus, whose solution provides us with the flexibility and features we require to perform our data governance functions”.
Philip Miller, Co-Founder and Co-CEO of Solidatus, said: “The British Business Bank does a fantastic job in supporting UK-based start-ups and SMEs. We are delighted to be working with the Bank’s team to help them connect, visualise and govern their data, giving this growing development bank the tools to start its successful development in the right way – with well managed and curated data”.
Elizabeth Squire, Director of Business Development at Solidatus, added: “The British Business Bank is at the point in its growth where it has large amounts of data that need to be analysed and understood in order to drive best practice decision-making. We are delighted to be working with its enthusiastic team to help visualise its data challenges and gain real insight from the data.”
Solidatus has been helping the public sector to efficiently organize data in the wake of the COVID-19 pandemic, which has seen a number of data management challenges emerge.
Risk management issues for Covid-19-related loans encountered by the British Business Bank are now being tackled thanks to Solidatus, which is eyeing other UK government departments as potential clients as the need for better data governance practices increases.
The firm has recently appointed David Northmore as Vice President of Sales and Chris Crang as Vice President of Marketing as the data management technology firm plans to further expand across the globe. Ex-HSBC Lorraine Waters joined Solidatus earlier this year as Chief Data Officer.