25 Jul Invest in Data Management to Fight Regulatory Challenges, Survey Says
By Grace Noto
July 20, 2017
Financial service executives are still concerned about regulatory changes, but the best response is to improve data aggregation and management services.
This is according to a survey by AxiomSL, which found that 66% of regulatory executives believe their institution needs to make investments in data management.
The majority of respondents noted that the best response to regulatory uncertainty for institutions would be to “increase investment;” 48% of survey participants agreed with this statement.
Outside of data management, the most popular area to focus investment was enterprise risk management, with 33% of respondents choosing that category. Only 3% cited cryptography as an area institutions should focus their efforts.
Additionally, 66% of executives cited “adopting to regulatory changes” as the most significant challenge they will face in the next three years, the survey of 132 executives found.
Take a look at the full survey here.
Originally featured in Bank Innovation