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Barclays Business Improved ‘Thanks to Efficient Data Management’

February 8, 2011 No Comments

Barclays has said it owes a plethora of business benefits to an efficient master data management system.

According to Computing.co.uk, financial giant Barclays Bank has said it has cut costs, reduced complaints, increased regulatory compliance, improved staff productivity and financial reporting as well as enhanced fraud fighting systems all thanks to more efficient data management.

Barclays was one of the few banks that did not need a government bail-out during the financial crisis.

The source said that effective data management is of particular importance in the banking industry due to the sensitive nature of customer information and the risk of regulatory fines for failing to comply.

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