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Replay Flash Friday: Staying Ahead of the Fintech News with Hachem Ohlale

Flash Friday is a weekly live show that brings the latest fintech news and developments to the audience

On 12th March, Don Ginsel – CEO and Founder at Holland Fintech had a chat session with Hachem Ohlale – Lead Business Analytics & Data Science at Synechron Netherlands to discuss how innovation can contribute to global business. Synechron is a leading digital transformation consulting firm focussed on the financial services industry and is working to Accelerate Digital initiatives for banks, asset managers, and insurance companies around the world. In the 30-minute talk, Ohlale shared his insights from the data analytics side, on how data science and data engineering can form and deliver the best business solutions. 

Topic discuss and key points addressed

In terms of global synergy, how to pick up cases from clients when the market-to-market challenges are at presence? 

On this question, Hachem Ohlale emphasized the importance of the team’s functions on both regional and global levels. Synechron has different teams who are responsible for identifying global trends across regions. It is crucial to look at regional flavors, from which building regional and national-specific data to come up with solutions in the end. 

What is the biggest challenge to manage the acceleration to address different purposes of the market? According to Ohlale, the biggest challenge is trying to get big values through multiple phases, from building a model to bringing the model to the production and integration step with machine learning. Furthermore, it is also challenging to have the right people who can embrace and adapt the changes. In the past, clients started to bring in data science, now more focus is placed on data engineering. We not only look at people with a strong technical background but we look at the alignment of tasks, knowledge and expertise.

Now we have observed the automated flow. How far can we go with embedded decision making using automation?

Addressing this question, Ohlale thinks that we are still far away from decision making using automation. The questions that need to be answered are: “What is the underlying operation?”, “How can we make sure to include humans?”, “What will the process look like?” In addition, human nature plays an integral part. Therefore, an easy-trusting model needs to be built to involve humans in the process. 

Sometimes, the  misunderstanding of people creates blockage, which results in the impossible use of data. How to help people understand and how far can we go with innovation? 

First, look at the major data analytic field. Instead of bringing in only smart people, it is also crucial to have coaching and to have the data properly embodied for everyone. Ohlale believed that training is necessary for the whole organization, not limited only to technical employees. By setting up an academy, making people data illiterate, we will be able to move forward with innovation. 

Wrapping up the meeting, the hosts highlighted that “Client leverages the learning curve”. Through researching, following the trends, interacting with clients, problem solvers have a clear picture of how to offer solutions based on client’s input and how to build the data that reflects human and society. The idea here is not only getting engineers but the whole society onboard. 

Learn more about Synechron here

Did you miss the event? Watch the recording below!

 

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