Wordwatch has been named on the inaugural DataTech50 List of brands transforming data management in financial services.
Unveiled by specialist financial research company FinTech Global, the newly launched DataTech50 list identifies some of the industry’s biggest movers and shakers that are leading the charge to improve data management in the financial services industry, as data capabilities continue to grow in importance for financial institutions.
As organisations continue to expand their digital transformation efforts and use artificial intelligence, data governance is becoming critical to improve operations and remain competitive in the current market. With so much data available for firms to use to their benefit, being able to sift through the weeds and find actionable insights is becoming ever more important for financial services organisations.
The need to be able to secure and benefit from good, actionable data has never been more vital for businesses that are looking to stand out from the crowd. Research by Gartner previously outlined how serious the harvesting of poor-quality data can be, claiming such a practice can cost organisations on average $12.9m million a year.
A renowned panel of analysts and industry experts studiously selected the finalists who made the DataTech50 list. The advisory board were given the task of reviewing a list of more than 400 companies who were shortlisted, and received in-depth information on each firm from FinTech Global to help them come to a final decision.
FinTech Global director Richard Sachar said, “As good data management continues to rise up the list of absolute imperatives for financial services businesses, there is a growing need for firms to be able to get to grips with the data they own and turn it into a competitive advantage.
“The DataTech50 list will help not just the firms looking to transform but also those within the financial sector who are seeking more insights and knowledge into the kind of innovation that is taking place within the data management space in 2024 and beyond.
A full list of the DataTech50 for 2024 and detailed information about each company is available to download for free at www.DataTech50.com.