AutoRek have released an industry report which takes a deep dive into the world of data management in financial services, alongside the various factors which have grown it into a board-level concern at many firms. The paper, Investing in the Automation Revolution, was released last week in conjunction with WBR Insights.

The findings of the new study are based on results from a survey of 100 senior FS professionals in data management, IT and finance. Respondents were questioned on the internal and external factors that affect their mid-to-long term data management strategy. These included the cost of non-compliance with regulatory requirements, Brexit uncertainty and new technologies with a focus on data governance and the emergence of machine learning and AI. Key findings of the report include:

• The majority of respondents are currently implementing blockchain, semantic data management, machine learning and automation, while only 39% currently utilise AI.
• Respondents predicted that AI would have the most impact on product development and innovation.
• 46% of respondents are actively seeking new technologies to assist data governance.

Gordon McHarg, Managing Director at AutoRek, commented on the findings “At the heart of any robust compliance operation is good data governance. If data governance is absent it simply must be an area of focus. Without data governance, firms are blind to the flaws that could topple their business.”

Investing in the Automation Revolution is available for free download at www.autorek.com.

About AutoRek (www.autorek.com)
AutoRek provides financial controls, regulatory reporting and data management software solutions. Our solutions are purpose-built to improve the quality and efficiency of financial data management, from cost reduction and process efficiency projects, to improving adherence to regulatory reporting requirements.

AutoRek Press Contact:
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