Understanding Data Modernization: Insights from BetaNXT's Inaugural Survey on Financial Services Firms
Data Modernization: Key Insights from BetaNXT's Survey
In the ever-evolving landscape of financial services, the importance of data modernization has become more prominent than ever. BetaNXT, a frontrunner in wealth management technology, recently launched their inaugural Data Modernization Benchmarking Survey, offering a deep dive into how firms in this sector are tackling data-related challenges.
Industry-Wide Focus on Data Modernization
The survey, conducted in collaboration with Wealth Management IQ, indicates that a significant 94% of firms are already engaged in, or have completed, data modernization initiatives. This collective focus emphasizes that data modernization is not merely an option but a necessity for the long-term success of financial institutions. A staggering 82% of the surveyed firms identified data modernization as critical for their success in the upcoming three years, with about 64% planning to increase their investment in this area.
Defining Data Modernization
While most firms recognize the necessity of modernizing their data, various interpretations arise regarding what
Topics Financial Services & Investing）
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