The Role Of Middle Office In The Management Of Data29th January 2010
The recovery is still in the process. Banks are being strengthening their balance sheets and are also returning their profits. With the arrival of this news, which is quite encouraging, the firms had been getting a great opportunity for restructuring their technology as well as strengthening the internal capabilities related to the management of data. With the help of these improvements, the banks will be provided with the agility which is needs for meeting the future strategies of the businesses as well as the rapid ongoing changes that are happening in the market conditions. But without the ability of managing the quality of the data having a consistent sort of approach, these improvements are not possible to attain.
In the year 2008 and 2009, the firms as well as the banks had been witnessing that because of the lack of the transparency and on time flow of data in the organization, the economy had to face a severe downturn. The events of 15th Sept., in 2008 when the bankruptcy was filed by Lehman, and many of the others show that the companies are required to be able for mentoring, assessing as well as reacting throughout the business lines in a day. They should also correct their data for doing this.
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