About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

Deficient Data Management Contributes to Poor Customer Experience Costing FIs $10 Billion a Year

Subscribe to our newsletter

Deficient data management lengthens client onboarding and contributes to a poor customer experience that costs financial institutions $10 billion a year and impacts the lifetime value of each client.

Other headline statistics in a report from client lifecycle management specialist Fenergo show that improving data and document capture is ranked the highest critical business issue and pain point by financial institutions, above complying with rising numbers of regulatory requirements. One in three financial institutions have lost customers due to inefficient or slow onboarding.

The report, prepared by independent research house Raconteur and surveying 250 C-suite executives across globally located commercial, business, investment/institutional and corporate banking institutions, drives home the need to improve customer experience and notes that financial institutions are being driven to digitalise the customer journey to achieve an enterprise wide view of client and counterparty data.

Marc Murphy, CEO at Fenergo, comments: “This report shows the impact that client onboarding inefficiencies and a hesitancy to digitalise processes have on the customer experience and how it directly effects the bottom line. The efficient handling of client data through digital transformation must be achieved by financial institutions if they are to gain competitive advantage in the digital-first world.”

This initial report is part of Fenergo’s trends report series and will be followed by further reports later this month and in March.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Powering Winning Low-Latency Trading Strategies – Gaining an Edge Through Server Performance

This webinar has passed, but you can view the recording here. Trading firms continue to seek faster execution and lower latencies for their high frequency and algorithmic trading strategies. Beating the competition to trade in today’s fragmented marketplace is crucial to avoid price slippage and to maximise alpha. But the competition isn’t staying still, and...

BLOG

12 Companies Bridging Agentic AI and Data Management in Capital Markets

The friction inherent in mobilising data is a perennial problem for financial institutions, who have spent the last decade perfecting the passive data stack – investing heavily in cloud warehouses, governance frameworks and ETL pipelines designed to move data for human consumption. However, the operational reality remains plagued by manual intervention. Recent developments in agentic...

EVENT

ExchangeTech Summit London

A-Team Group, organisers of the TradingTech Summits, are pleased to announce the inaugural ExchangeTech Summit London on May 14th 2026. This dedicated forum brings together operators of exchanges, alternative execution venues and digital asset platforms with the ecosystem of vendors driving the future of matching engines, surveillance and market access.

GUIDE

What the Global Legal Entity Identifier (LEI) Will Mean for Your Firm

It’s hard to believe that as early as the 2009 Group of 20 summit in Pittsburgh the industry had recognised the need for greater transparency as part of a wider package of reforms aimed at mitigating the systemic risk posed by the OTC derivatives market. That realisation ultimately led to the Dodd Frank Act, and...