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Changes to financial regulation 'encouraging focus on data management'
Feb 1 2011, 10:20 AM
Companies involved in the financial sector are taking a greater interest in deploying integrated data management systems in response to international changes to regulation.
This is the opinion of Rochelle Blease, Vice President of Business Development at Wolters Kluwer Financial Services, who told the Risk.net website this is just one factor pushing banks towards such tools.
The expert said other issues that are leading to growing demand for data management technology include continued globalisation and an increase in the number of relevant products available on the market.
She added: "The foremost is, of course, regulation and what that means in terms of managing risk on a much broader, enterprise basis, versus taking a siloed approach."
Last month, Paul Sussman, Vice President at the Manhattan Consulting Group, told the Bank Systems & Technology website that banks should improve their data management strategies in order to offer a better experience to their customers.
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