IT Management Slideshow: 7 Ways IT Can Help Avoid Future Financial Meltdowns

By Dan Briody  |  Posted 01-22-2009

7 Ways IT Can Help Avoid Future Financial Meltdowns

Technology alone could not have saved the financial industry from itself. But banks and investment firms can do a lot to save themselves - and us - from similar problems in the future

7 Ways IT Can Help Avoid Future Financial Meltdowns

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Integrate systems across the enterprise for improved customer service and comprehensive risk analysis

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Insist on standardized data across the enterprise to allow for clean, reliable data analysis of operations and market conditions.

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Link risk analysis data with other data streams, including revenues, customer feedback, and compliance.

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Improve the speed and delivery of analysis of data on operations and market conditions to allow for real-time decision making.

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Let the technology do its work without gaming the system in pursuit of profits; systems are only as good as the numbers they crunch.

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Increase the transparency of the risk analysis process to allow stakeholders and regulatory bodies the necessary visibility.

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Expand the CIO's strategic role and boardroom clout in order to make sure that key IT targets get the attention they need.

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