For many in the financial services sector, be it asset management, insurance, savings or pensions, regulation is the ‘in’ word. With it comes the financial burden of compliance, fear of pecuniary redress, damage to personal and corporate reputation and a loss of customer trust.
And the risks of getting it wrong are greater today. With financial services firms using a combination of online and traditional channels to connect with their customers, the information received comes from all directions and in different formats – and does not always marry up.
Data management varies significantly from one financial services firm to another. All too often data is an under-leveraged asset, but it only has value if it is accurate. Apart from your regulatory obligations, there are several good reasons to refocus on data management, quality and accuracy:
Now, more than ever before, good data management must be a priority. You will find it has a measurable impact on your P&L.
We already help many businesses across a wide spectrum of sectors to make sure their data is correct and remains so through a continuous programme of data quality management. That fully managed process is the basis of our reputation, built on our clients’ trust in our ability to get it right and deliver a high quality result.
If you are not sure how accurate your data is, we will run a free data health check for you. This will tell you how your data could be improved so you can make an informed decision on any next steps. Contact us for more information.Free data health check