Data management becomes key for financial institutions

Emerging business intelligence applications are poised to revolutionise the manner in which market data is viewed and used by financial institutions.

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By  Greg Wilson Published  February 6, 2003

Emerging business intelligence applications are poised to revolutionise the manner in which market data is viewed and used by financial institutions.

According to IDC subsidiary, Financial Insights, the emergence of data providers, development of new services and convergence of architecture and analytics will be defining factors in the IT strategies of financial institutions.

Furthermore, vendors that develop these products to deliver the level of business intelligence demanded by clients stand to realise significant new profit.

“New data management products are being developed to address the needs of financial services firms to cuts costs and gain competitive advantage,” says Jin-Chul (Gene) Kim, senior analyst in the Capital Markets practice at Financial Insights.

“The firms who develop and market these products effectively will become more competitive and more profitable.”

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