•  
• Tweet
•  
•        Print
•  
•         Track Keywords
•  
• 

Bailey McCann, Opalesque New York:

A new report from State Street says that many investment firms are falling behind when it comes to embracing new technology. The report findings are the result of a global survey of 2,000 investors and 500 investment providers.

State Street argues that leaders defined as those using digital technologies to transform their businesses are excelling in the "three I's of data": integration, integrity and intelligence: integrating internal and external data; drawing new intelligence from it to improve decision-making, agility and client-centricity; and then safeguarding the integrity of this data with the highest levels of cybersecurity. However, there is also a growing cohort of laggards that are slow to understand and embrace the three i's.

The gaps between the two groups are striking. When it comes to cybersecurity, 64 percent of leaders are applying robust cybersecurity measures to ensure data integrity, but only 22 percent of the laggard group have made the same effort. 63 percent of leaders are aligning front, mid- and back office functions to better service clients, but only 30 percent of the laggard group are doing the same.

Of the investment providers surveyed almost half (49 percent) say technology is redrawing the marketplace. Eight in ten (81 percent) say digital transformation is important for the future of their organisation.

To get ahead, the laggards will have to take a hard look at strategic and tec......................

To view our full article Click here