Don't Cut Alt Data Spend, HSBC Data Manager Warns

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Banks should not think of cutting spending on data during the current financial downturn, despite financial pressures, Damaris Barrera, a senior data manager in HSBC’s global banking and markets group, has said.

Barrera, who was speaking on a WatersTechnology alternative data webinar on May 21, said that banks use alternative data to train business models and artificial intelligence, but that due to pandemic-induced cost pressures, many will be considering cutbacks in their data spend. However

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