January 5, 2011 – As the financial institutions enter 2011 and look at the emerging regulatory requirements this new era brings with it, what role will information technology play in these converging technological environments?
Wall Street & Technology brought this interesting topic to our attention in their article, “9 IT Priorities for 2011.” This article recommends nine priorities for companies to focus on. Doing so could potentially improve their operational discipline, advance strategic innovation and gain an edge on the competition. Topping the list is “Achieve Clarity via Information Convergence”. IT will need to take the lead in establishing a common information architecture to integrate processes, systems and data across lines of business to improve the design, quality and interpretation of data. Those firms that know how data is used, where it is sourced and how it moves will have an edge on their competition in responding to opportunities and exposures as they emerge.
Change requires new ways of thinking about our data and our partners in technology. This is less daunting for companies that take a practical approach and set realistic expectations. Access Innovations is known as a leader in database production, standards development, and creating and applying taxonomies.
Melody K. Smith
Sponsored by Data Harmony, a unit of Access Innovations, the world leader in indexing and making content findable.