Up to two-thirds of firms working within the financial services industry are concerned that their technology infrastructure will not be capable of handling increased data volumes, a new study has shown.
The survey, which was conducted by Wall Street & Technology in conjunction with Platform Computing, SAS and the TABB Group, revealed that growing volumes of data and how to manage this information are issues for firms of all sizes.
A further two-thirds of respondents voiced concerns over whether their IT infrastructures would be capable of keeping up with the future pace of data handling.
Robert Lati, partner and global head of consulting at financial services research firm TABB Group, said: “It’s clear that organisations need more flexible infrastructures and platforms to enable them to manage the data issues that both buy- and sell-side firms have today, which includes managing an exponentially larger glut of data at compressed speeds.”
The survey found that many financial firms are considering investing a range of technologies to overcome these information handling issues including cloud, grid and cluster programs.
More than 200 financial technology decision makers were questioned as part of the study.
By Jim Ottewill