Understanding the human interplay in operational change and data management.
As buy-side firms emerge back into the real world and to their offices, one of the key priorities on the agenda will be to address the escalating complexity around data management, witnessed during one of the most turbulent and volatile periods in the global financial markets. This operational complexity, combined with the rapid growth of non-standardized ESG data and larger volumes of diversified market data, has left buy-side firms grappling for access to timely and accurate data. The resulting impact has been detrimental for operational resilience, affecting processes across the investment chain, and ultimately the bottom line.
As with all forms of adoption, there are already front-runners who recognize the significance of data management as critical to investment management and to delivering a competitive advantage. In 2019, the Investment Management function of Zurich Insurance Group took the decision to optimize its operating model, moving to a new future-proof way of working; Data as a Service.
In this latest article, we explore some of the key themes that emerged in a recent interview with Zurich Insurance Group (Zurich)*. We know technology plays a key role in operational change, but it appears there is also an equally critical human element at play. A mindset shift that is necessary, if firms are to move away from inefficient and unsustainable workflows and towards a future-fit model.
*The opinions and views expressed within the content are solely those of SimCorp and do not reflect the opinions and beliefs of Zurich Insurance Group, other than those expressed in direct quotes.