The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

Netik’s Hale Says Fear Rather Than Greed Driving Institutions to Invest in Data Management

Keith Hale, executive vice president and co-founder of Netik, opened the second day of FIMA 2008 by quoting Warren Buffet in a data management context: “Financial markets are either driven by greed or fear, according to Warren Buffet, and it seems that recent times have flipped the driver from greed to fear. This fear is good for data management projects as they are more likely to get funding due to regulatory pressure,” Hale told delegates.

In the current economic climate, the industry will witness more of a focus on a reduction in operational costs, a greater focus on automation and on getting reference data right, Hale continued.

“Risk management and regulatory requirements are adding pressure on institutions to deal with their data issues. Market consolidation at the pace it is happening today is also a contributing factor as firms need to reduce duplication of processes to reduce costs,” he explained.

Hale discussed a recent survey by Netik that looked at issues around data management and highlighted that 78% of respondents found duplication in their data processes.
“Today we will also be looking at how the budget cutting for next year will impact data projects, as some institutions have cut their budgets by 60%,” he concluded.

Related content

WEBINAR

Upcoming Webinar: Managing the transaction reporting landscape post Brexit: MiFID II, SFTR, EMIR

Date: 16 March 2021 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes The transaction reporting landscape has, for many financial institutions, expanded considerably in size since the end of the UK’s Brexit transition period on 31 December 2020 and the resulting need for double reporting of some transactions to both EU...

BLOG

Refinitiv Adds Country SDG Scores to ESG Data Arsenal

Refinitiv’s launch of measures assessing the sustainable development performance of individual countries is the latest of a series of services targeted at the burgeoning ESG investing space. The addition allows Refinitiv to offer asset managers and servicers scores that indicate the degree to which funds, corporations and now countries meet the UNs Sustainable Development Goals...

EVENT

RegTech Summit Virtual

The RegTech Summit Virtual is a global online event that will be held in June 2021 with an exceptional guest speaker line up of RegTech practitioners, regulators, start-ups and solution providers to collaborate and discuss innovative and effective approaches for building a better regulatory environment.

GUIDE

BCBS 239 Data Management Handbook

Our 2015/2016 edition of the BCBS 239 Data Management Handbook has arrived! Printed copies went like hotcakes at our Data Management Summit in New York but you can download your own copy here and get access to detailed information on the  principles and implications of BCBS 239 on Data Management. This Handbook provides an at-a-glance...