Do you know how your data stacks up against others in the industry?
Given the turmoil in the credit markets over the past several years and the resulting regulatory response, the need for accurate, timely data to make well-thought-out strategic decisions has become even more essential.
To assist you in setting benchmarks against which you can evaluate your own data integrity, The Risk Management Association (RMA) and AFS partnered in 2006 to survey global financial institutions, asking them to assess the quality of their data and rate their tactics for improvement.
Since that original study, RMA and AFS, each known for helping to assess credit risk in all of its forms (including related to data), have expanded the program in both depth and breadth. The most recent results reflected responses to the survey from 36 leading global institutions headquartered in North America, Europe, Africa, Asia, and Australia.
The RMA/AFS Credit Data Quality survey now represents more than 9 years of insight on how global institutions are addressing issues that include:
- Managing data in an environment of limited resources (people, time, dollars)
- Using automation to reduce the delays and errors inherent in manual keying
- Relying on quality data for enterprise-wide initiatives with deep impact, such as the proper allocation of capital
- Addressing the data management concerns associated with storage, definitions, analysis, and understanding
Survey participants gain an ongoing ability to assess their data issues against best-practice benchmarks. Contact AFS and learn how to bring to your organization:
- More timely identification of emerging problems
- More efficient capital allocation/utilization
- Reduced regulatory and legal risks
- Improved transparency in reporting results to the market
- Reduced costs (credit losses, loss provisions, etc.)
- Better risk-based pricing
- Improved customer service
- Improved ability to compete
View a summary of the RMA/AFS Survey on Credit Data Quality 2015 or inquire about becoming a participant in future surveys. You’ll learn firsthand how your data stacks up against that of your peers. For more information, contact Lee Kidder via email at: lkidder@afsvision.com.