Our new survey explores how financial services firms around the world can add business value – including increasing revenues and boosting efficiencies – through the use of market and reference data and supporting data management tools.
Firms are falling nearly one-third short of their potential because they don’t have access to the data and tools they need to perform their jobs. This translates into trillions of dollars in lost opportunities.
Although spending on market and reference data is up over the past year and is set to continue to rise, according to the survey, firms are struggling with a range of challenges, from poor data governance to cultural differences between teams.
This new Refinitiv research examines the role that a connected data strategy across the front, middle and back office plays in closing the potential gap for financial services firms, and unlocking added business value.
Access the full report to discover:
- The size of the potential revenues and efficiencies that can be unlocked through access to more data and improved data management
- The data challenges that financial service firms around the globe are facing across the front, middle and back office, as well as infrastructure/IT/support
- Approaches firms can take to drive more business value out of their investment in market and reference data
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New revenue could be unlocked within the firms of sell-side survey respondents if they had access to the market and reference data.
Of respondants agree that integrating new market and reference data strategies will require a completely different mindset and attitude from employees.
Of respondents expect to see an increase in focus on data governance by regulators over the next 12 months.
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