SUNRISE BANKS
“Having [ DE & I ] as a core value is why Sunrise is so great , because they believe in that , and they live it every day ”
WOLE COAXUM CHIEF EXECUTIVE OFFICER , MOCAFI
Data Fuels Change As with every industry , access to more data and more sophisticated data science will also play a vital role in building the inclusive bank of the future . More data means more innovation . It is the “ holy grail ”, says Coaxum . “ Having insights , and having the ability to act on those insights , is how you create a significant amount of value for the customer ,” he says . “ Taking additional pieces of data , for instance , the activities that people do every day , and making that visible and using that to assess that individual is a great example of that . What you can do over time with data is create new markets , in terms of people who you might want to lend money or people you might want to do business with . This is great because we ' re always looking for new sustainable markets .”
To support this , Sunrise is undergoing an ambitious digital transformation to supercharge its partnership programmes and provide more access to that data . “ Right now we ' re going through a core migration of a lot of our operational activities to the cloud . That ’ s going to allow more access to data for our fintech partners , more automation , more integration ,” says Toft . “ Data really is the fuel that powers our fintech programmes and it ' s used for everything from compliance to billing to reconciliation to what Wole is saying , which is customer insights and analytics . Being able to provide that real-time data is a bit unique in banking . There are a lot of batch processes and end of day files , so we are moving
36 March 2022