Book of the Month: Data Models for Banking, Finance, and InsuranceBy Mark Horseman on January 6, 2025
Welcome to the first “Book of the Month” for 2025. This time, we’ll be going over “Data Models for Banking, Finance, and Insurance” by Claire L. Frankel.
This book arms the reader with a set of best practices and data models to help implement solutions in the banking, finance, and insurance industries. Right at the beginning of the book, Frankel highlights that, while qatar rcs data this book is a significant shortcut to the work that goes into data modeling and reporting, ultimately one must work with the business to ensure that local considerations are reflected in the work. The book goes through various models that are critical to the industries it focuses on and provides detailed insight into how the models ultimately function. Additionally, as a bonus, the book educates readers on financial fundamentals. companion for a data team just starting with implementing solutions in the financial vertical.
Frankel spends time early in the book covering a data model for credit card information. In covering this topic, as she does for every topic, Frankel spends time providing key definitions for the concepts covered in the data model. Credit card information faces some significant regulatory requirements for its capture and use. Frankel helps significantly demystify and ultimately, derisk the management of customer credit card data. The book also gets into transactions of credit cards used by a customer of the bank and credit cards as a product being offered by a bank. This highlights the robustness of the book. Furthermore, it details various types of credit cards, such as corporate cards, family cards, and more.