OP Bank Group publishes its Data Balance Sheet
OP Bank Group has published its annual Data Balance Sheet, providing an open description of the organization's data management, governance, and use. The report clarifies the role of data in the company's operations and customer service.
OP Bank Group has released its annual Data Balance Sheet, offering a transparent account of the organization's data governance, management, and utilization. The banking group emphasizes that data is a critical factor in defining business opportunities and risks, requiring its productivity improvement and protection to be treated with the same seriousness as financial capital or human resources.
The publication of the Data Balance Sheet aims to build confidence among customers, stakeholders, and society regarding the group's data usage and objectives. OP Bank Group leverages one of Finland's largest data asset bases to achieve better customer understanding and service. Open communication about data use and value creation is part of the group's corporate responsibility and a response to growing customer and stakeholder expectations.
The report details how OP Bank Group utilizes data and artificial intelligence to develop banking and insurance services, deepen understanding of customer needs, and secure the future of Finland's financial system. It also provides insights into the key principles and practices for responsible and secure data processing.
In addition to the Data Balance Sheet, OP Bank Group published a separate artificial intelligence transparency report in 2022 for its 'My Financial Balance' service, aiming to enhance the transparency and comprehensibility of AI usage.