Rising trading volumes, regulatory pressures and recent well-publicized operational and valuation fiascos are pushing financial institutions to gain a better understanding of their data. Because faulty information can flow through a multitude of applications to customers, counterparties and securities watchdogs, developing an accurate and consistent view of data across an enterprise is becoming key to protecting a firm's reputation and bottom line.
One obstacle is cultural: Data is generated in multiple business silos at the point of need, and one-time initiatives are launched for specific purposes such as consolidating client data, mitigating client and counterparty risk, and analyzing opportunity costs. Another problem is technological--legacy systems have created data silos.
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