Romain Thierry

Reference data is usually maintained where its absence stops work. It decays where retirement creates no immediate alarm. AI may make the search for that decay cheap enough to do before it becomes an expensive correction.

Banks have invested heavily in cleaning client data over the years, and it shows: the client level record is mostly clean.

The received wisdom says that banks must fix their data before building up AI solutions. Thirteen years of Basel Committee reporting suggest following this advice is a Sisyphean task, because the data never gets right.