Governance in Data Management

The efficient management of data should be of utmost importance for any actor in the financial industry.

Digitalisation has led to an exponential increase in data. With institutions required to process more and more data, the need for aggregated data respecting compliance rules, but also making sure that distribution networks and platforms are disclosing the right information at the right time to the right places, is imperative.

We recognise that data management challenges are not the same for everyone. Boutique asset managers tend to use in-house resources to manage their data and often, don't have access to developed infrastructure that general (and often larger) asset managers have.

This said, the larger the network, the more difficult it is for a fund manager or management company to source and follow up on the data. Multiple domiciles, different Regulatory Authorities per locality, and working with various third-party service providers render the process more intricate.

Likewise, the trend toward the standardisation of marketing and sales materials for fund distribution is strongly felt within the industry.
If not just for the increasing focus of Regulatory authorities weighing in on this, industry players feel the definite need to control content and data throughout the value chain.

It is essential to work on bringing aggregated, up-to-date data to asset managers and management companies to support their overall fund distribution process. In line with the ever-changing regulatory environment and fully aware of clients’ preoccupations, financial service providers must keep an open mind and ear.

Clients want to maintain control over their data and how it is being managed. This requires a certain level of flexibility and optimised via tailor-made IT development to follow each step of the data processing journey. Customisation is key in respecting the needs of every client and provide the ideal foundation to cope with these current and future challenges. Proper governance in efficient data management not only reduces costs but also mitigates risk on many levels.

We are a fintech with a service. Our technology is scalable and flexible. As specialists, we have the necessary teams and infrastructure to accompany our clients in their projects and allow them to efficiently manage and control their data.

Paperjam, September 2021

Originally published on fundsquare.net