by Angela Guess
A new global survey has revealed, “Poor quality of reference data continues to create major problems for financial institutions. The survey was jointly conducted by iGATE Patni, the integrated technology and operations brand providing Business Outcomes-based solutions, in conjunction with Inside Reference Data magazine.”
The article notes, “The survey had responses from a focused group of 107 reference data professionals across the globe (U.S., EMEA, and APAC) from Tier 1, Tier 2 and Tier 3 organization size (based on revenue) and included a variety of firms from the buy-side, sell-side, and universal (retail and investment) banks to cover every major segment of business.”
Fred Cohen, group vice president and global head of Capital Markets and Investment Banking Practice, iGATE Patni, stated, “The industry survey shows that financial services firms are still facing major issues maintaining quality and consistency in their reference data management processes… Firms still seem to be at a lower maturity level of data GRC requirements and most are pre-occupied at the lower levels trying to improve data quality and manage silos.”
photo credit: iGATE Patni
