London
15 March 2017
Reporter: Barney Dixon
Cultural battle being waged over data
Efficient data management in financial institutions is a cultural battle that is still being fought, heard attendees of the Summit for Asset Management.

Data management providers need to ensure that “everyone in the organisation realises that it is something real”, according to one speaker.

“They have to get beyond the idea that ‘this is IT’ and think of it more as information science,” he said. “This is the biggest cultural shift that we have ever seen.”

A big step toward achieving this would be “documenting their processes and putting them in a data framework”. Compliance should be a driving force behind any framework.

A framework should also bear in mind differences in business lines and even how each department within an organisation operates. “There are some places that really show the benefit of standardisation, but it’s still a way off [from being the norm],” one speaker explained.

More technology news
The latest news from Asset Servicing Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
SIX unveils DLT bond issuance solution
17 March 2017 | Zurich | Reporter: Katherine Brown
SIX Securities Services has created a distributed ledger technology solution to cover the entire bond lifecycle, from issuance to settlement, in partnership with Digital Asset Holdings
Asset management IT department’s role will change
15 March 2017 | London | Reporter: Barney Dixon
The IT departments of asset managers may see sweeping changes to their roles in the next 10 years
Cultural battle being waged over data
15 March 2017 | London | Reporter: Barney Dixon
Efficient data management in financial institutions is a cultural battle that is still being fought, heard attendees of the Summit for Asset Management
Robot out of it, say asset managers
15 March 2017 | London | Reporter: Stephanie Palmer
Traditional wealth management providers have nothing to fear from robo advisors, according to panellists at TSAM
Indata upgrades in MiFID II prep
14 March 2017 | Greenwich, Connecticut | Reporter: Stephanie Palmer
Software and technology provider Indata has upgraded its iPM Epic software suite in order to improve functionality ahead of the implementation of MiFID II
FCA and JFSA in innovative partnership
10 March 2017 | London | Reporter: Stephanie Palmer
Financial regulators in Japan and the UK have agreed on a cooperation framework to support financial technology companies in entering each market
Broadridge gains post-trade messaging service
10 March 2017 | London | Reporter: Drew Nicol
Broadridge Financial Solutions has acquired Message Automation to bolster its suite of post-trade services