17 October 2017
visit www.response.ncr.com

Reliability top driver for investment industry when choosing tech provider - survey

31 July 2009  |  1034 views  |  0 Source: MFT

'Reliability' and 'Customer Service' are rated higher than 'Cost' among those responsible for evaluating financial technology providers across Europe, according to research recently commissioned by MFT.

More than 45% of those interviewed, across the Investment Management Industry, chose 'Reliability' as the number one driver that impacts their decision when considering their selection or retention of a new technology provider. 'Customer Service' came second, with 'Cost' in third place. The other attributes receiving support were 'Market Status' and 'Breadth of Existing Customer Base'.

Reflecting on the results of the research, MFT Executive Director David White commented, "I think two imperatives explain this result and why reliability came out on top. Firstly, a lack of confidence in a chosen technology can impact the ability to seize growth opportunities in both existing and new markets. Combine this with the boom in transactional volumes and STP over the last five years, and one can understand why reliability is factored so highly into the decision chain".

The high score given to 'Customer Service' is also notable. Says White; "I was pleased that even in difficult economic conditions, 'Customer Service' trumped 'Cost'. Customer Service is no longer just a matter of response times and SLAs - leaner, modern fund managers want a collaborative approach to problem solving, with real time interaction that unlocks their potential, and not just solves specific problems. Paradoxically though, 'Cost' actually figures very heavily in this research, specifically an acknowledgment that over time the least expensive solution can be the costliest, as the price of unreliable systems and second rate customer service is incalculable".

Comments: (0)

Comment on this story (membership required)

Related blogs

Create a blog about this story (membership required)
visit www.vasco.comvisit www.capgemini.comvisit www.temenos.com

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
14523 views comments | 11 tweets | 3 linkedin
Taiwan's Far Eastern International Bank suffers malware attackTaiwan's Far Eastern International Bank su...
13114 views comments | 16 tweets | 22 linkedin
Monzo fends off suitors as current account upgrade beginsMonzo fends off suitors as current account...
8993 views comments | 17 tweets | 14 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
7965 views comments | 15 tweets | 20 linkedin
Ripple blockchain network hits 100-member markRipple blockchain network hits 100-member...
7646 views comments | 13 tweets | 13 linkedin

Featured job

New York, NY - USA (some flexibility on location)

Find your next job