Finance sector facing data access problems
Almost two-thirds of financial services firms in major centres across the globe have real problems storing, accessing and sharing data, according to a new survey.
Corporations need "data at their fingertips"
Conducted by global financial market technology information provider Walters Technology and data platform provider MarkLogic Corporation, the report concluded, “For any buy-side firm that wants to make the best possible investment decisions, having data at their fingertips is critical.”The research was said to underscore "the vast challenges and opportunities for financial services firms to better use data to boost investment returns, improve operational efficiencies and more easily meet regulatory reporting requirements".Single investment research hub to store all research and ancillary information
Some 56% of companies were found to be considering a single investment research hub to store all research and ancillary information to better make data accessible. Two-thirds of these firms said a single hub would enable them to make better investment decisions, with 59% expecting it to enhance the client experience via personalised research.Other findings in the report, 'Investment Data Practices Under the Spotlight', included:- 64% of respondents believed their organisation’s research data was stored in too many disparate systems or locations across the enterprise.
- two-thirds of firms were not able to access all their core investment data in one place.
- 72% of respondents had no tools, or insufficient tools, to create personalised, authoritative research for clients in a timely manner, hindering client experience.
- Half of the firms considering a single data hub expected it to help them streamline processes around storing and curating investment research.
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