Banking on the Future: Fifth Third’s Real-World Data Modernization Journey from Coalesce 2023

"We pick and choose to build and buy where it made sense for us..."

- Kayleigh Lavorini, Director of Product Ownership at Fifth Third Bank

Fifth Third Bank team members Kayleigh Lavorini, Director of Product Ownership, and Ben Rottinghaus, Senior Director of Data Engineering, discuss the transformation of data processing and management in organizations, particularly in the banking sector. They share their experiences and journey to modernize data handling, focusing on the importance of people, processes, and technology.

Data Modernization requires investments in people, processes, and technology

“...it was iterative for us, and I think that was a key, right? We didn’t go for ‘solve every one of those processes at once.’”

- Ben Rottinghaus, Senior Director of Data Engineering at Fifth Third Bank

Fifth Third Bank embarked on a data modernization journey to change how people interact with data and the technology used for these interactions. This journey involved iterative refinement and investments in people, processes, and technology, which were all aimed at simplifying data processes and increasing data accessibility.

The bank also invested in teams to simplify processes, automate tasks, and create a more seamless experience. "The people are at the center of it…” says Kayleigh. “All of these require investment, but I think it stems from our recognition that, in order to do this and actually be successful, [people have] to be our main focus."

The importance of communication in data modernization

Kayleigh and Ben highlight the crucial role of effective and constant communication in data modernization. They emphasize the need for continuous dialogue with stakeholders to establish trust and manage the pace of change.

Kayleigh shares the importance of “meeting people where they're at and expecting emotional reactions because change is hard." She explains, "The business doesn't give a shit about what dbt is or what Snowflake is. They care about the outcomes that it's driving–not the tech outcomes–but the business outcomes."

The need for practical, achievable goals in data modernization

Kayleigh and Ben emphasize the need for realistic and achievable goals. They advise organizations to prioritize what makes sense for them, considering their specific needs and limitations.

"We pick and choose to build and buy where it made sense for us...We pick and choose where to build and buy and invest based on the type of users that we have," says Kayleigh. She emphasizes the importance of understanding the organization's specific needs and tailoring the data modernization approach to address these needs effectively.

Kayleigh and Ben’s key insights into data modernization

• Data modernization requires a focus on people, processes, and technology. The right technology is needed to support process improvements
• The transition to modern data handling can be challenging due to the need for new skills and understanding. It's crucial to meet people where they're at and expect emotional reactions
• Prioritizing what makes sense is important in the process of data modernization. Not everything can be tackled at once, so it's important to choose what will move the needle toward achieving outcomes
• Leveraging technology that solves your problems is crucial. It's important to choose whether to build or buy based on what makes sense for the organization and the type of users
• Education and training are key in data modernization. Investment in people and building sustainable skill sets are essential for the longevity of the data products