FStech - Data in focus: How are FSIs leveraging data & automation while managing compliance and business risk?

1. Which sector of financial services do you work in?

2. What are the key data management challenges for your organisation? (Tick all that apply)

Data quality
Data storage
Dark data
Data silos
Data sharing between business areas/external partners
Data integration
Data holes/incomplete data sets
Manual processes
Data stored in multiple/different formats (.e.g. mainframe, voice, text)

3. How accessible is data in your organisation? (Tick the most appropriate answer)

A large proportion of our data is stored manually/paper based
Data is not accessible across the enterprise as a whole
Data is siloed but accessible in certain business areas
Data is largely accessible to the wider enterprise on numerous platforms
Data is consolidated across the enterprise and visible on a single platform

4. Where is the majority of data stored? (Tick top three)

Data lakes
Legacy systems (e.g. mainframe/AS400/propriety)
Centralised data platform
Data warehouses
Manual archives
Cloud storage
On prem storage
Hybrid cloud
Multi cloud

5. What are the major data governance risks for your business? (Tick all that apply)

Protecting sensitive data (e.g.data privacy)
Manual controls
Data sharing across business areas/third parties/geos
Ensuring data is available for regulatory reporting purposes
KYC
AML
Customer due diligence
Data breach
Regulatory Fines
Legal action
Shareholder action
Business disruption
PII-Erasure/subject access request
Mergers and acquisitions
Lack of skills/employee awareness

6. What are the major roadblocks to the rollout of automated technologies? (Tick all that apply)

Data silos
Data quality
Lack of real time data
Data visibility issues
Disparate datasets
Storage and IT Infrastructure limitations
Skilled resources
Manual processes
Regulatory constraints
Compliance risk
Cost implications
Buy-in from senior leaders
Data privacy risk
Disjointed data strategy (e.g no common data plane between legacy and Cloud)
No use case for automation

7. What are the main use cases for data analytics in your organisation? (Tick top three)

Personalised customer experience
Data management
Data mining
Application development
Business intelligence/strategy
Monetisation of data
Streamlining workflow
Driving efficiencies
Marketing campaigns
Predictive analytics
Compliance
We do not have advanced data analytics capabilities

8. What are the key advantages of data transparency for your business? (Tick all that apply)

Customer trust
Data quality
Ability to monetize data
Centralised view across organisation
Self service/democratisation of data
360 customer view
Internal data controls/governance
Simplified data workflows
Regulatory reporting
Data sharing between business areas
Improved compliance
Increased agility
Real time data flows
Improved decisioning

9. How advanced is your organisation on its cloud transformation journey? (Tick the most appropriate)

We have started developing our cloud transformation strategy
We are in the early stages of implementing our cloud strategy
We have made good progress in moving data to the cloud, but there is work to be done
We have mostly implemented our hybrid cloud strategy, with some data on-prem
We have successfully completed our cloud transformation strategy
We are a fully cloud native/cloud first organisation

10. How has your technology investment strategy changed in recent months? (Tick all that apply)

We have accelerated investment in data-driven technologies
We are refocusing investment on different areas
We have paused technology investment
We have cancelled projects to focus on business continuity
We will re-start technology investment in the next 12 months
We will continue to accelerate technology investment in the next 2-5 years
We have implemented an outcome/results based model with clear ROI

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