Reference data automation efforts are currently showing a significant increase as a global survey by AIM Software reveals
Austria, Republic of (Press Release) October 31, 2007 --
VIENNA/ZURICH - According to a new survey conducted by AIM Software, the financial industry’s focus has recently shifted from complying with Basel II to MiFID (Markets in Financial Instruments Directive). AIM Software’s study was designed to inquire into the driving forces, challenges and planned investments for reference data automation and risk management. This year’s survey was sponsored by Interactive Data (Europe) Ltd, part of Interactive Data Corporation (NYSE: IDC), and a leading supplier of financial information to global markets.
The current findings reveal that improving reference data quality is regarded more than ever as a key issue for operational risk management and that regulatory requirements had no less impact on these decisions than last year, while companies now focus more on MiFID rather than on Basel II as in the last few years.
Regulations apart, the surveyed companies are also focusing on reducing errors and costs associated with back office workflows through improved straight through processing (STP). This year, 58 per cent of the survey’s respondents named improved efficiency as an important driving force for implementing a reference data management solution.
Martin Buchberger, head of Marketing at AIM Software, states: "Financial institutions are beginning to realise that investments in reference data management can help to reduce not just operational risks but also operational costs. The surging investments in the back office are emphasizing the significantly changed agenda and are a sign of the constant evolution in back office infrastructures that started some years ago.”
“Our research activities are aimed at giving an in-depth insight into global trends and developments in the back office area. The budgets in reference data management and STP are obviously growing with companies trying to further catch up in these areas,” concludes Buchberger.
Detailed findings of the survey can be downloaded for free at http://www.dmstudy.info
About the AIM Global Reference Data Survey 2007
The survey was conducted by AIM Software for the fourth consecutive year and was sponsored by Interactive Data (Europe) Ltd. The sample included 377 financial institutions in 65 countries which filled out an online questionnaire about their plans regarding reference data and risk management, the handling of regulatory requirements and more.
For further information, please contact:
For AIM Software
Gerlinde Pachinger
PR & Communications
Tel: +43 1 5124652
E-mail: pr@aimsoftware.com
VIENNA/ZURICH - According to a new survey conducted by AIM Software, the financial industry’s focus has recently shifted from complying with Basel II to MiFID (Markets in Financial Instruments Directive). AIM Software’s study was designed to inquire into the driving forces, challenges and planned investments for reference data automation and risk management. This year’s survey was sponsored by Interactive Data (Europe) Ltd, part of Interactive Data Corporation (NYSE: IDC), and a leading supplier of financial information to global markets.
The current findings reveal that improving reference data quality is regarded more than ever as a key issue for operational risk management and that regulatory requirements had no less impact on these decisions than last year, while companies now focus more on MiFID rather than on Basel II as in the last few years.
Regulations apart, the surveyed companies are also focusing on reducing errors and costs associated with back office workflows through improved straight through processing (STP). This year, 58 per cent of the survey’s respondents named improved efficiency as an important driving force for implementing a reference data management solution.
Martin Buchberger, head of Marketing at AIM Software, states: "Financial institutions are beginning to realise that investments in reference data management can help to reduce not just operational risks but also operational costs. The surging investments in the back office are emphasizing the significantly changed agenda and are a sign of the constant evolution in back office infrastructures that started some years ago.”
“Our research activities are aimed at giving an in-depth insight into global trends and developments in the back office area. The budgets in reference data management and STP are obviously growing with companies trying to further catch up in these areas,” concludes Buchberger.
Detailed findings of the survey can be downloaded for free at http://www.dmstudy.info
About the AIM Global Reference Data Survey 2007
The survey was conducted by AIM Software for the fourth consecutive year and was sponsored by Interactive Data (Europe) Ltd. The sample included 377 financial institutions in 65 countries which filled out an online questionnaire about their plans regarding reference data and risk management, the handling of regulatory requirements and more.
For further information, please contact:
For AIM Software
Gerlinde Pachinger
PR & Communications
Tel: +43 1 5124652
E-mail: pr@aimsoftware.com
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