Boston, MA, August 28, 2006 – According to a new report, Aite Group expects that with risk-management efforts, compliance initiatives, STP improvements, and customer service differentiation, improving customer data will be a top ten priority in 2007 for most firms.
This report examines the practical implications associated with managing legal entity data, including the challenges, opportunities, and issues to be aware of when tackling a customer data management project. Firms that have successfully accomplished projects associated with this task have been able to improve risk management, compliance, and Straight-Through Processing (STP) initiatives, and are now focused on subsequent Business Intelligence (BI) projects to leverage their efforts in interesting new ways.
According to Adam Honoré, senior analyst at Aite Group and author of the report, "If some compliance and risk officers really knew the state of counter-party data in their firms, EDM projects would become a much higher priority in many firms. Managing the information about clients is as important as managing the information about products. With data under control, the result is more information delivered faster and ultimately a significant cost savings as firms are working with accurate information."
This 24-page Impact Report contains 9 figures and 3 tables. Clients of Aite Group's Institutional Securities & Investments Service can download the report