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Data management becoming important for financial firms

Rachel Wheeler Archive
A growing number of financial institutions are looking to implement data management solutions in an attempt to increase transparency and open up new business opportunities.

As such, the need for organizations to employ specialists in this area is becoming ever more important, reports.

"There's been a push to create better management of the various data streams within financial services organisations," agrees Andrew Keene, director of IT in finance recruiters Thomson Keene.

"Firms want to gain access to cross-product information, as well as looking at efficiency gains. Data management roles are no longer viewed as simply a back office technology position – they're being more closely aligned to business requirements."

Meanwhile, companies looking to implement data management schemes may be interested to learn that the process must be maintained over time.

Writing for 1to1 Media, Ryan Vaughn explained that ensuring data integrity is kept at a consistently high level requires "ongoing data validation and maintenance".

Posted by Rachel Wheeler