A hot potato in the hands of financial institutions: data quality

Poor quality of data is still causing headaches to financial institutions. In an environment of ever-growing regulations, increasingly complex and difficult markets, a growing demand for transparent products, and the urgent need to establish sustainable profitability, data quality is an issue that requires a major shift in the mindset of banks or insurers. Data cannot be seen anymore as an IT topic. Data requires everyone’s attention and needs to be treated as a valuable strategic asset, with a great potential to create a competitive advantage. Data issues cannot be treated anymore as a hot potato that no one wants to hold for long. It will only get hotter until everyone burns their hands.

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