Survey Says: Slow Adoption of New Technologies is Prevalent Across the Financial Services Industry
Each year peers across the Financial Services industry contribute to Deloitte’s Fair Value Pricing Survey. Prior surveys have emphasized secondary vendor sourcing, price challenges, vendor due diligence, etc. In 2019, the survey highlighted the industries slow adoption of new technologies as it pertains to the valuation process. Below are a few interesting figures revealed from this year’s survey:
- 17 percent of participants said their firms are exploring the future use of Data management/data lake for valuation of data.
- 7 percent of participants said their firms began using Data management/data lake for valuation of data.
- “Only 4 percent of survey participants report that the chief technology officer initiated an effort to use technology to increase the efficiency of the valuation process.”
Continuus Technologies is an implementation and consulting services partner with IHS Markit on their Markit EDM platform. Automating end-of-day valuation processes is just one of the many ways we have helped clients make the most out of the Markit EDM platform. Whether your firm is new to Markit EDM or a long-time user, Continuus takes pride in providing compliant solutions that are flexible enough to keep up-to-date with current and future industry trends.
If you feel that your firm is struggling to adopt new technologies such as Markit EDM, we understand the data sources your firm relies on and how this data impacts the transactions you need to execute. Contact us today to learn how we can support your enterprise data management practice.