Barclays has agreed a multiyear strategic collaboration with FactSet that marks a shift in how the bank is approaching market data and analytics infrastructure as part of a broader enterprise-level data strategy. The arrangement will see Barclays integrate a broad suite of FactSet products, data and technology solutions into its workflows to support data-driven decision-making across client and internal use cases.
“This agreement extends and deepens our existing relationship within the investment banking division of Barclays,” says Goran Skoko, Chief Revenue Officer at FactSet, in conversation with TradingTech Insight. “It is a multiyear agreement, and while the current focus is investment banking, the structure of the agreement allows for expansion into other areas over time, which we would certainly hope to see.”Under the agreement, FactSet’s capabilities will be deployed with an emphasis on evolving traditional vendor relationships toward collaborative delivery models that align more closely with banks’ internal technology and data roadmaps. Barclays’ inclusion on FactSet’s Client Advisory Board is designed to reinforce joint planning on future data and technology solutions.
“Our Client Advisory Board brings together key firms and industry innovators to guide strategic discussions,” says Skoko. “These conversations help inform our roadmap and ensure alignment between what we are building and our clients’ objectives. Clients like Barclays play an important role in shaping our strategy, while ensuring that it remains aligned with our long-term goals as a company.”
The deal comes at a time when large investment banks are reassessing market data cost structures, governance and vendor engagement models amid intensifying pressure on margins and an imperative to modernise data architecture. A strategic, multiyear relationship reflects a desire for longer-term predictability in sourcing and integrating analytics, rather than piecemeal procurement.
For FactSet, the agreement strengthens its positioning as a core enterprise provider within major financial institutions’ market data ecosystems. Embedding its platform more deeply into Barclays’ global operations may support stickier usage patterns and inform future development priorities for analytics, data delivery and integration services. “We expect ongoing and deepening collaboration between our two organisations to better understand where our technology can most effectively help Barclays optimise its workflows,” notes Skoko.
This arrangement illustrates a broader trend in which large sell-side firms seek deeper collaboration with technology and data partners to standardise data delivery, enhance transparency and accelerate time-to-value across research, risk, trading and client-facing functions.
“Success will likely be reflected in the consolidation of niche tools that may currently exist within Barclays, as well as broader operational streamlining,” observes Skoko. “Most importantly, however, The core objective is strategic alignment, ensuring we understand our clients’ priorities and they understand our direction. Given the pace of change in the industry, that alignment is more important than ever.”
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