Companies undergoing a digital transformation must have a common data fabric that provides a single view of the truth and underpins analytics, reporting, and regulatory processes. But to meet the requirements needed for transformation, many Capital Markets organizations are realizing the need to modernize legacy data systems.
Data modernization is more than just upgrading legacy platforms. By building a cohesive data fabric, organizations can unlock opportunities and differentiate.
The top 5 takeaways for data modernization in Capital Markets:
- A modern data infrastructure will unlock the potential of digital transformation through analytics, streamlined operations, and improved customer outcomes.
- The right cloud implementation takes time as well as reskilling and rethinking of IT processes.
- The hybrid model is proving to be the new normal with some data remaining on-premises for the foreseeable future.
- Data platform usage will explode as businesses realize the potential it’s unlocking.
- Real-time offers opportunities for firms to identify and respond rapidly to new business situations and client requests.