Redefining the relationship with data, FinTech industry veteran and Managing Director of Provenir, Paul Thomas explores the data disconnect troubling financial institutions in this in-depth interview.
Paul Thomas has witnessed the data struggle firsthand in his work with both traditional financial institutions as well as disruptive fintech innovators. At first glance, the struggle doesn’t make sense. There’s no shortage of data—most organizations are drowning in data. It’s not the lack of tools that’s the problem—analytics-tools like Python are widely accessible. It’s not even a lack of talent, with some fintech firms employing the brightest data scientists from the most prestigious graduate programs. So what exactly are the issues that prevent financial organizations from fully using data and how can they be solved?
Thomas has a unique, perhaps even renegade, approach to solving data challenges. He believes that organizations need to reimagine their relationship with data and restructure their infrastructure to take advantage of new data sources and cloud-based technology partners.
In a fast-paced and far-reaching interview peppered with many industry examples and anecdotes, Thomas explains why—and most importantly, how—financial services providers can transform how they use data to deliver the products and services consumers want.