A RISK.NET survey report, in association with ORACLE FINANCIAL SERVICES
Measuring the return of improved data management
Enhancements to data management were previously driven by regulatory concerns, but eight out of 10 banks believe better data management could benefit their business and boost profitability, according to a Risk.net survey sponsored by Oracle Financial Services
From the front office to the back office, data lies at the heart of almost every process in the financial services industry, and regulation has added considerably to the data burden facing banks. Improving data management offers the potential not just to increase banks’ efficiency in a more tightly regulated environment, but also to boost their underlying profitability.
This detailed survey of C-level executives, risk managers and data management professionals highlights the value that can be gained from more effective data governance and management, but it also reveals that many firms are not there yet. As banks continue to address the demands of regulation in the years to come, the survey shows that the benefits of placing robust data at the centre of every project go well beyond compliance – but banks don’t feel they are there yet.
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