Data Case Study 1

The Problem

Gaps were identified in the data analytics capabilities of the National Bank of Rwanda (BNR), hindering its organizational goals. Lack of robust data management practices, infrastructure limitations, and inadequate stakeholder engagement posed challenges to effective data utilization and strategic alignment. The BNR decided to address these gaps by developing and implementing a data strategy for the organization and move forwards upgrading its overall data management. AdVision Finance collaborated with Kin Analytics and AFR Rwanda to address these challenges.

Our Approach

Advision’s approach started from the high level strategy of the BNR, and the analysis of the role of data management in the achievement of this strategy. The data strategy was developed to align with and serve  the general strategic objectives of the Bank. Once the pillars of the data strategy were set, Advision rolled-out an inclusive data solution development approach engaging with multiple stakeholders in the organization to formalize recommendations fitting BNR’s operational framework. Advision implemented comprehensive data quality management practices and revamped the data governance framework within BNR's Electronic Data Warehouse (EDWH). We coached the management of the organization in the leveraging of their data, put in place harmonised reporting and developed 10 business cases of potential data related initiatives which could be implemented by the bank.

Achievements

The data management strategy developed included a detailed roadmap outlining concrete action points for infrastructure development, governance framework implementation, and cultural shift. This roadmap ensured alignment with specific, measurable outcomes, facilitating effective monitoring and adjustment of the strategy over time. AdVision Finance achieved significant milestones, including the successful implementation of data quality management practices, the establishment of a robust data governance framework, and the fostering of a culture of data literacy within BNR. Comprehensive recommendations and a list of potential data projects were presented to the Data Governance Committee, culminating in their official adoption within BNR and the launch of the prioritized data projects.

Next Steps

The updated data strategy and governance at BNR set the stage for transformative growth in the country's financial landscape. This new strategic direction combined with the concrete data management and improvement and recommended data initiative launched a new dynamic in the capacity of the Bank to generate value from data for the benefits of the financial sector and the whole economy in Rwanda. The BNR will keep accelerating on the data topic by implementing data-related projects, learning by practice, and continuously updating the data strategy and governance structure based on evolving priorities of the organization.