Michael Hutnyan, EVP Sales & Solution Strategy, Harte-Hanks Trillium Software
After reflecting on the recent holiday season, now that many of us have recovered from some extensive gift-giving (and are now paying the resulting bills), it occurs to me that my financial services clients are receiving a more troubling gift – one that only promises on-going costs and a possible deviation from growth and service - new and ever-changing regulatory requirements.
I’m referring primarily to those government-sponsored, mandated regulatory demands that involve a significant data management component. Newly defined regulations such as FATCA and the yet-to–be-unveiled LEI (legal entity identifier), will require an extensive and proactive data management strategy by banks. They’ll need to clearly demonstrate knowledge and control over data and its quality in order to achieve compliance.