Data in Financial Services represents both unavoidable challenges, as well as significant opportunities. Failure to get to grips with data challenges poses great risks; not just regulatory but also both financial and reputational. Beyond the threats that the new data-centric era poses, Financial Services companies also need to develop the ability to extract value from their data, or risk geting left behind. Indeed, 75% of executives stating that failure to leverage data will lead to becoming uncompetitive.
Given the central importance of data in modern financial institutions, it is unsurprising that the sector was the first adopter of the Chief Data Officer (CDO) role, and now accounts for 25% of these positions globally. The impact of these CDOs is already clear with 43% of financial service firms with a CDO experiencing considerably improved performance in Big Data initiatives, compared to just 31% of organizations without a CDO.
The Chief Data Officer Forum, Financial Services brought together over 100 CDOs, CAOs, and other data leaders from leading global and national financial institutions, with those attending benefiting directly from their experience and insight. Further, our interactive formats meant an the end to endless powerpoint presentations, with only a few minutes to for questions. Alongside keynote presentations from our senior speaker line-up, our informal discussion groups, an in-depth masterclass and networking sessions provided deleagtes with the opportunity to take away the new ideas and information they needed to deliver real benefits to their company. Topics covered included; Data Governance, regulatory compliance, data-centric change management and extracting business value from your data through effective analytics.
Thank you to those who joined us at the Convene Event Center, 32 Old Slip in the Financial District, New York City, June 22 – 23, 2016, to meet your peers and keep up-to-date with the latest advances in this rapidly developing field.
We look forward to seeing you at the next event soon!
Content Director, US & Europe
Chief Data Officer Forum