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Integrating data sources an expensive challenge for financial services sector


Johannesburg, 24 May 2016
Whitepaper: Integrating data sources is an expensive challenge for the financial services sector
Whitepaper: Integrating data sources is an expensive challenge for the financial services sector

Financial services companies are found to be heavy users of public and private Web portals, but these external data sources require a disproportionate amount of resources to integrate the information into the organisation's systems and processes. In many cases, in fact, integration efforts are abandoned altogether and the organisation is forced to rely on manual integration, where there is a risk of error.

The banking and financial services sector is among the most IT-intensive industries, which is emphasised by the fact that almost half of the survey participants stated their organisations use more than 10 external data sources to support their business processes. In a number of financial services companies, this figure is likely to be much higher.

Employees clearly need this information to achieve a complete view of their markets, customers, and business; however, acquiring, enhancing, and delivering this information where it's needed inside the organisation is cumbersome and impacts employee and process efficiency.

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