It is no secret that times are tough for most in the financial services community: budgets have been slashed and there have been many casualties of cost cutting exercises. But how has this impacted your data management teams and how does this compare to other firms out there?
Much has been made of the importance of accurate reference data within the regulatory community (one need only look at Barclays’ fine for inaccurate reference data underlying its transaction reports for proof, see here), but are firms taking this on board?
In September, Reference Data Review readers indicated that regulation and risk management has been both helping and hindering the data management cause, but has it helped in preventing loss of valuable staff resources? If staff have been lost due to economic pressures, this will likely drive firms to invest in STP solutions to be able to cope with high volumes of data processing.
But, on the other hand, if staff numbers have increased, this may indicate that firms are more willing than ever to invest in the fundamentals of data. If you have a particularly interesting solution to this doing more with less within your own firm, write in and tell us. In the meantime, let us know your views by clicking on the voting buttons on the right hand column and we’ll collate the results at the end of November – get voting!