No one in today’s financial industry will deny the importance of having accurate, holistic, and timely data to comply with current and upcoming regulations. In response, billions have already been spent and even more on the horizon to improve existing data management and data governance processes, systems, and technologies to meet these critical regulatory mandates.
Risk and regulatory driven investments are often seen as a “defensive” strategy to satisfy upcoming deadlines and to avoid costly regulatory penalties. Despite the availability of new funding for regulatory needs, firms large and small are under constant budget pressure to do more with less resulting in bodies thrown at solving these problems vs. adopting proper technologies to do this work.
How should data management executives and enterprise architects approach their data management investments to benefit their firms, both from a regulatory and revenue perspective? And what are the common elements between these two critical business requirements from a technology, process, and governance perspective? Peter Ku, Sr. Director of Financial Services at Informatica, explores.