Reference Data Technology special report
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Gaining a Risk Buddy
When I took up the position as editor of Inside Reference Data in 2007, the majority of market participants I interviewed talked about selling the concept of enterprise data management, building the business case and getting senior support for data activities.
But soon after, the global financial markets took a nosedive. Discussions moved to the fact that senior executives started recognizing the importance of good-quality data. At this point, budgets were squeezed across the industry, but risk units were taking a greater interest in reference data, underlining the importance of continued improvements in data management systems.
At conferences data managers said professionals who would not even say ‘hi' to them in the elevators before the credit crunch were now suddenly their new best friends. And risk has continued to be a key theme over the past couple of years, with regulators putting pressure on firms to mitigate risk. This has also helped shape the agenda in the reference data technology space.
It is not a case of a system requirements having changed overnight. The key themes related to building a sound reference data technology platform remain the same. Data managers still want to centralize and automate processes, and need flexible and scalable systems. Yet, they are not going solo. They can team up with a risk buddy, who understands the background for setting off on the journey.
In this special report, which includes comments from industry experts and a news review, we hope to help readers stay informed about the latest developments in the reference data technology market.
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