Digital transformation has become a major concern to all companies, and with data being at the center of this transformation, enterprises are increasingly shifting to a data-driven transformation where decision-making is based on facts and data. In sectors where data has always been in the center of all work processes, such as investment banking, data-driven transformation has even more importance as it allows a more tangible result generation. This paper aims to provide guidance to investment banks on their data-driven transformation journey by providing insights on the target culture, the patterns that could be adopted and phases that should be followed to roadmap this transformation. The paper also discusses when data architecture work starts, its drivers, challenges and risks to mitigate in order to ensure the highest performance levels possible. The objective is to getbetter sense of all dimensions to inspire investment banks to engage in this process.