Evolving Data Strategy at Major Canadian Bank

With the ever-increasing amount and variety of data, constantly growing regulations and legislation requirements, new capabilities and techniques to process the data, to become a data-driven organization, CIBC goes through enormous changes in all aspects of leveraging, managing, and governing the data.

To address the requirements of this new reality, CIBC embraced the data mesh paradigm and developed a generic two-part data pattern. On the business side, the pattern introduced a data product strategy to define data domains and data products end-to-end owned by the cross-functional data product teams. On the technology side, CIBC has implemented a data mesh architecture to support the data product strategy. The central part of this architecture is represented by a data management platform providing a shared platform and data management and governance services. The article introduces and discusses guiding principles driving the data strategy.