Asset managers held back by slow data

Data centre newThe velocity at which data is delivered has become a chief concern for asset managers when it comes to using analytics to drive growth, suggests a recently published survey.

The annual Future of Finance report published by the Swiss exchange group SIX found that almost half (48%) of the canvassed asset managers cited the velocity of their inbound data as their primary challenge.

This contrasted with the answers from wealth managers and asset servicers who both highlighted the volume of data as their biggest obstacle.

One reason for the increased importance of data velocity is the planned use of AI – of those firms planning to implement the technology, more than half (58%) believe that faster and more accurate data analysis for better decision-making will deliver the most value to clients.

“Data and analytical capabilities have never been so strategically important,” said Shai Popat, head product and commercial strategy, financial information, SIX.

The survey canvassed 343 senior executives at international financial institutions, including asset managers.

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