IBM and Broadridge Study Reveals Financial Markets Firms Challenged to Deliver Innovation and Efficiency
Only 1 in 5 firms excels at supporting new regulation and responding rapidly to client demands
Leading firms are rethinking their operations, forming external partnerships
NEW YORK, N.Y. – 21 Sep 2012: A new report released by IBM in collaboration with Broadridge Financial Solutions, Inc. reveals that increasing regulatory pressures and shifting customer demands are forcing financial markets firms to transform how they operate. Forward-thinking firms are breaking away from the industry’s long-held “not invented here” approach to managing operations to create a more open, agile and customer-focused model that expands the traditional boundaries of collaboration with external partners.
In a survey of 133 senior business executives and top IT decision makers from large and small firms located in the world’s trading centers – the United States, United Kingdom, Singapore and Hong Kong – 77 percent cite regulatory requirements and 59 percent point to more demanding customers as the top external market drivers triggering changes in their operating models. Only 22 percent of the firms currently excel at meeting both. (more…)