FinTech Magazine February 2024 | Page 81

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Then he brings us to the pinnacle of data and analytics application – the end goal of bringing commercially viable solutions that help generate value from clean , actionable data sources .
“ The third generation that we are in now is all about extracting value from all these assets . Now that you are a customer seamlessly across a variety of platforms that you may use , you may have a personal account with us , hold a business account , or have some wealth relationship with BMO , but you could be part of a company that ’ s looking to go public ,” Sahota explains . “ How do we seamlessly create that profile to be able to assist you in a number of ways across the organisation ? I think the reason you have someone in the CDAO seat is to get to gen three . You want a data asset , you want enterprise data , then the ability to extract value from it in a seamless way to drive progress for customers , and deliver loyalty , growth and efficiency .”
Citing an analogy that is adopted among leadership at BMO , Sahota shares the approach to always ensuring the foundational functions are achieved , leaving staff free to mould to the needs of its customers . This is a critical ethos to adopt in order to reach the ‘ gen three ’ stage .
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