Capital Markets & IT - lakyara January 2020
Financial institutions are under constant pressure to reduce costs, improve operational efficiency, adapt to regulatory changes and grow their business. NRI believes that a combination financial knowledge and information technology are crucial to the industry’s growth and development.
Through our lakyara reports, NRI identifies the various capital markets and IT issues impacting our clients and the future of their business.
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For financial institutions, data utilization is becoming increasingly important in terms of both offense (e.g., data-driven marketing) and defense (e.g., AML/CFT compliance). While analytics tend to attract the lion’s share of attention in the data science space, data quality is a critical determinant of analytic outcomes. Data governance is essential to ensuring that companies safely and securely utilize reliable data on an ongoing basis.
Over 18 months have passed since Japan amended its Banking Act to promote banking APIs (application programming interfaces). While Japanese banks appear to proceeding apace with API deployments according to survey data, they have not bought into open APIs entirely.They need to reaffirm open APIs’ value as an innovation driver.