Who's who at Keytrade Bank?
Even though Keytrade Bank is primarily a digital bank, behind the screens it is not run by robots but by more than 200 employees across dozens of jobs. Whether it's at our Contact Centre, our Credit Department, our IT Department or our Data Department, our employees work every day to ensure they meet your needs and improve the Bank. Perhaps you'd like to find out more about them and what they do?
First up in our series of interviews, is Head of our Data Department, Pierre Marchand.
What role does the Data team play within Keytrade Bank?
“In order to do their work to the best of their ability, our various departments all need data and reports on the company or customers . These requests can be rather complex, and therefore require in-depth knowledge and cutting-edge technologies. Our department's know-how enables these analyses to be provided.”
How is your team organised, and how do you work with other teams?
“The way we are organised is 'agile', a method of working increasingly seen in technological companies. This means we can share work more effectively, depending on each person's area of expertise. Our team consists of a product owner, a scrum master and three groups of experts: data scientists, data engineers and business analysts.
As collaboration is paramount and as we must work fluidly with other teams, we are having weekly meetings with the various departments to coordinate everyone's requirements. Thanks to an IT system called JIRA, everyone can track the activities of each team and submit requests.”
Why has the world of data become so important? What added value does it offer Keytrade Bank and its customers?
“In-depth data analytics has become the main driver of competition and performance in almost all industries. Annual reports are no longer the norm today, yet predictive models or automatic segmentation, which provide a more comprehensive analysis, are. This type of analysis gives Keytrade Bank a better understanding of its customers' needs. For customers, in-depth data analytics improves their experience. An example of this is optimising browsing on the bank's website by making it smoother.”
What are the limitations of using data? How can we ensure data is not misused?
“There is of course the GDPR, which regulates the use of personal data. Prior to the introduction of this legislation, the banking sector was already highly regulated in the area of data use. At Keytrade Bank, strict control points are put in place to guarantee that data is used lawfully. For example, each customer's preferences are scrupulously checked before they are sent any communications.”
Which qualities does a person need to be part of your team?
“To be part of our team, you need to meet demanding criteria. Data expertise acquired over at least five years is essential. Data is not something that can be learned in a few months or via online courses. It's vital to have gained experience on a series of projects presenting a range of problems and complexities. A great deal of effort is required to complete projects successfully or resolve data problems. A passion for data is a must!”
What does a typical day look like?
“The day starts with a 20-minute daily update to run through the day's activities and check whether there are any glitches to fix. After that, each team member focuses on projects which generally require several hours of highly technical work. In the afternoon, we identify actions to be scheduled in the next few weeks and circulate information about what stage projects have reached. The day ends with meetings with management to review the progress of strategic projects.”
Please provide us with a specific example of a project
“One of our projects aims to serve customers better by suggesting a Keytrade Bank product that may be of interest, depending on their profile. This type of suggestion is the same as what we see on Amazon or Coolblue in the "customers who bought this item also bought this item" inserts. This is for the purpose of sending targeted communications and suggesting a product or service that will interest the recipient. These suggestions are obviously produced within a very strict legal framework, and only sent to relevant customers.”
How has your work been organised during lockdown?
“The team has worked full-time from home from day one of lockdown. Everything was in place to allow work to be carried out as if the team were physically in the office. To ensure social links are maintained between colleagues, a "coffee meeting" is organised every day.”
This article does not contain any investment advice or recommendation, nor a financial analysis. Nothing in this article may be construed as information with a contractual value of any sort whatsoever. This article is intended for information only and does not constitute in any way a commercialization of financial products. Keytrade Bank cannot be held liable for any decision made based on the information contained in this article, nor for its use by third parties. Every investment entails risks such as a possible loss of capital. Before investing in financial instruments, please inform yourself properly and read carefully the document "Overview of the principal characteristics and risks of financial instruments" that you can find in the Document centre.