Sweetening the Pill
KEY FINDINGS
Compliance is clearly a business critical issue
When 100 IT Managers from the UK Financial Services sector were asked to rate the importance of compliance to their business, over 50% gave this the highest rating of 5 on a scale of 1 to 5. No one rated the importance of compliance below the level of 3.
Despite significant investment, IT capability still falls short in many areas
IT Managers confirm there have been significant demands placed on them as a result of compliance related activity over the past three years. Nevertheless, fewer than half say they are satisfied with the ability of current measures to cope with future requirements in the areas of document management, archiving and retrieval. The gap is even wider with regard to electronic messaging, where only one in twenty are fully satisfied with their capability.
Most expect the compliance related burden on IT to increase
Almost 60% of Financial Services IT Managers believe the compliance related burden on IT will increase in the future, with a further 22% saying it will not let up. This leaves just one in five respondents believing they are over the worst.
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