Vanquis Banking Group
Vanquis Banking Group
- Industry: Banking
- Size: 1000+ Employees
- Annual Revenue: £500m+
- Locations: 4+ Sites
Solution
- Implemented Nephos’ Data Governance BPO service
- Automated data retention practices
- Streamlined compliance with audit & approval workflows
- Identified sensitive & critical data across diverse applications
Challenge
- Semi-manual data management and retention
- Lack of centralised data asset discovery
- Resource and budget constraints for delivery
- Ambition to transform data platforms for added value
Results
- Automated data discovery, classification & disposition
- Delivered data governance project in 4 months
- Removed >10,000 data tables to streamline data migration
- Saved £700K in annual staffing costs
About Vanquis Banking Group
Founded in 1880, Vanquis Banking Group is a specialist bank dedicated to promoting financial inclusion. Offering a range of tailored credit cards, personal loans and vehicle finance solutions, the group serves around 1.75 million customers across the UK.
Through their commitment to innovation and dedication to creating new financial solutions that truly support and empower customers, Vanquis continues to reinforce their position as a trusted partner.
The Challenge
Taking proactive steps to maintain their gold-standard reputation, Vanquis identified four key challenge areas that needed attention to improve their data management capabilities:
- Automated Data Management: Transition from semi-manual data management to automated systems to improve visibility of sensitive data, ensuring efficient retention and classification without user reliance.
- Centralised Discovery and Compliance: Address the lack of centralised data asset discovery to streamline access, support regulatory compliance, and meet ongoing demands effectively.
- Resource and Time Optimisation: Overcome resource and budget constraints for timely delivery of data initiatives through either strategic allocation or external partners to achieve the best time-to-value.
- Data Platform Transformation: Enhance data platforms to improve visibility, integration and strategic insights to support the broader ambition of a comprehensive data transformation programme.
Vanquis Banking Group initiated a transformative project to improve their data management capabilities aiming to:
- Automate data management processes
- Centralise data discovery and compliance
- Optimise resource allocation
- Transform their data governance platform
The Nephos Solution
Implementing Nephos’ unique Data Governance BPO, Vanquis transformed their data governance programme to enhance trust, transparency and control over their data assets by streamlining operations across over 200 data sources.
Working closely with Vanquis, we ensured compliance with data regulations by effectively executing their data management policies. Through automation, we seamlessly integrated and improved efficiencies, allowing Vanquis to maintain operational continuity without needing extensive customisation or additional resources beyond the initial scope.
Delivered as a comprehensive managed service, our team of skilled data governance specialists supported Vanquis throughout the entire process to provide the expertise required to deliver significant value within tight deadlines. Through our BPO, Vanquis aimed to accelerate their data project deployment to overcome typical delays associated with data governance initiatives.
”Nephos has been instrumental in transforming our data governance framework at Vanquis. Their expertise and strategic approach have significantly streamlined our data management processes. The results have been beyond our expectations, enabling us to focus on delivering value to our customers.
Garry ManserHead of Data Governance
The Results
Nephos’ BPO service delivered transformative results for Vanquis, revolutionising their data management and governance framework. By accelerating project delivery with us, Vanquis achieved their governance objectives within four months – 70% faster than initially forecasted had they managed it independently.
Our unique approach helped Vanquis eliminate over 10,000 redundant data tables, significantly reducing the scope of data migration needed for their transformation programme. This strategic reduction streamlined the migration process and also supported a leaner, more efficient data management structure.
By automating data discovery, classification, and disposition, Vanquis met project objectives without increasing headcount, saving an estimated 80% in resource costs for delivering their governance programme. Through our BPO, Vanquis not only ensured compliance and operational efficiency but also reinforced their standing as a leader in data integrity and operational excellence.