Process-driven data and information quality management in the financial service sector

Highly regulated sectors face challenges on data and information quality management (DIQM) to conform to increasing regulations. With the financial service sector, as the most highly regulated industry, we are interested in current and future DIQM challenges. For a sustaining improvement, data quality should be managed process-driven. Process-driven data quality management (PDDQM) provides continuous improvement of data quality by redesigning processes that create or modify data. Therefore, business process management (BPM) is a basis for PDDQM. In an information systems’ context, enterprise resource planning (ERP) systems offer a platform for integrating processes and data. We examine market developments and IT trends by conducting semi-structured expert interviews with participants in IT-strategic decision making. We present current trends in the insurance sector and identify three main DIQM challenges: The IT-independent management of data, an increasing need to engage in PDDQM, and guiding existing and future measures by a data governance framework.