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The Top Data and Technology Challenges in Financial Services

A Global Survey of 554 Line of Business Leaders

We surveyed 554 financial services business leaders, globally, to understand the biggest technology and data challenges their organizations face, as well as their key data initiatives and priorities for the next 12 months, and their views on collaborating with fintechs.

Highlights from the survey include:

  • 86% of financial services business leaders lack confidence in using their data to drive decision-making
  • Only 5% of data used to make business decisions is less than one hour old
  • The highest technology priority is gaining access to real-time data from across the business for improved decision making
  • 77% of financial services business leaders would consider implementing a data fabric to simplify access to distributed data

Financial services organizations are striving to gain a competitive edge, deliver more value to customers, reduce risk, and respond more quickly to the needs of the business. Gaining a consistent, accurate, real-time view of their data will better enable firms to do all of that, helping to improve everything from understanding market risk, risk reporting and cash flow, to regulatory compliance, and a comprehensive view of customer and institutional client activity.

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