Data, analytics and technology: Strategic enablers for the CIO - As in every other business sector, financial services companies are having to respond to rapid and transformational developments in data, information and technology. Taking advantage of these developments requires fresh approaches to systems, processes and governance. Improving the alignment between the data and information systems relied on by internal management and external regulators is fundamental. We believe the articles in this issue should help illuminate some of the directions for future development.
Banks can use virtual currencies to regain control of payment and settlement systems, and leverage Bitcoin trading exchanges for derivatives swaps.
Insurance companies should shore up their defenses against the rising threat of cyber crime.
By consolidating risk data management, banks can generate more accurate, timely risk reports, to improve decision-making and meet regulatory demands.
Through data lifecycle governance, organizations can access essential information for regulatory and strategic purposes.