Is data really the ‘new oil’ for financial institutions? It has certainly propelled today’s digital revolution, but for institutions still wrestling with its 3Vs (Volume, Variety and Velocity), mastering its Ps and Qs – Privacy and Quality – will be next on the agenda. Many firms have started this process, but there is much left to do as the market embraces the integrity and control issues surrounding their data. For FIs across the global economy, whether data proves an opportunity or a nightmare depends on how well they address these critical issues.

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