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Financial Services Companies Creep towards a Single Customer View

Pierre Perrin-Monlouis Dernière mise à jour: 20 octobre 2021

42% of deposit takers in danger of missing the FSA 2011 deadline on Single Customer View

London, UK, 23rd March 2010: Financial Services companies are creeping towards a Single Customer View of their data but there is still much work to be done, according to findings released today from a survey of data management experts.

Data silos still exist at 79% of the financial services companies responding to the survey, commissioned on behalf of data management consultancy Evaxyx, and 61% still cannot access a Single Customer View across their operations.

Worryingly, 42% of deposit-taking respondents also believed that they would fail to meet the Financial Service Authority’s January 2011 deadline for a Single Customer View to be in place under the revised Financial Services Compensation Scheme.

The research underlined the extent of the challenge facing financial services companies with 48% of respondents saying that authority for the regulation of data in their company sat in multiple departments; and 31% of data experts saying there was “no clear governance model operating across their silo specific business units”.

Commenting on the research findings, Evaxyx CEO Adam Prentis said: “These are worrying results for the financial services industry. There is a clear commitment from the financial services industry to get its data house in order but there is still a mountain to climb for many of these

organisations. It is essential that companies quickly determine a strategy to deliver an effective Single Customer View and put the resources behind it to deliver. The FSA now has the power and support to back-up its rhetoric and in particular the deposit takers will be next in its sights.”

The research was carried out with 30 data management experts from some of the UK’s leading financial institutions.


About Evaxyx
Evaxyx provides advisory, consultancy and implementation services to support its clients through the full lifecycle of data-centric integration programmes. This includes helping organisations to create a vision and a business case through to actual execution and realisation of business benefits. Our clients, including Npower, Scottish Widows, Sony, O2 and Vodafone, have helped establish Evaxyx as one of the leading UK data management companies.

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Pierre Perrin-Monlouis
Pierre Perrin-Monlouis
Fondateur de Rente et Patrimoine (cabinet de gestion de patrimoine), Pierre Perrin-Monlouis est un analyste et trader pour compte propre. Il vous fait profiter de son expérience en trading grâce à ses analyses financières et décrypte pour vous les actualités des marchés. Son approche globale des marchés combine à la fois l'analyse technique et l'analyse fondamentale sur l'ensemble des marchés : crypto, forex, actions et matières premières.