With challenging market conditions and a continued focus on cost cutting, technology teams are under increasing pressure to meet the business demands of an ever-changing market and regulatory conditions. These changes require a rapid response and specific solutions to help meet business demands and capture growth opportunities. The pressure on margins and shifting investor preferences has resulted in firms increasingly changing gear, examining new business opportunities, markets and product areas in search of alpha.
A WatersTechnology survey of senior business professionals revealed that 52 percent feel it is “extremely important” for their organization to deliver solutions quickly in response to new business needs, but only 7.1 percent felt “very good” about their organization’s ability to do so. This raises questions around whether financial services firms are fully embracing the latest technologies—or whether they continue to lag behind other industries, despite the extreme pressure they face to stay ahead of the curve and grow their bottom lines.