WINDSOR, England, March 5 /PRNewswire/ --

- Respondents Point to Key Industry Challenges in the Areas of Data
Compliance, Data Accuracy and Integrating Data From Multiple Systems Over the
Next 12 Months

The results of a national research study into the data owners
within the UK's largest financial services companies were released today. The
research, commissioned by DataFlux, a leading provider of data quality and
data integration technology and conducted by BDRC, an independent research
company specialising in the UK financial services sector, outlines current
attitudes and practices to corporate data management and industry regulation
in the finance sector.

A series of interviews was conducted with the personnel responsible for 
data management at financial institutions with more than 500
employees across the UK. The research shows that corporate data is
overwhelmingly viewed as a strategic asset (90%) with 86% replying that the
quality of corporate data is "extremely important". However, results also
demonstrate the industry takes an inconsistent approach to assigning
responsibility for data management within the corporation and that major
challenges are expected in the next 12 months.

Colin Rickard, Managing Director, DataFlux, commented:
"Financial services legislation in force today demands robust processes for
guaranteeing the accuracy of data held on assets and customers. Our research
shows the industry expects more of the same, and the start of this regulation
is evidenced by the FSA recently tasking banks with a GBP200 million IT
investment to deliver a single customer view. It is essential that companies
in this sector apply robust data governance principals to remain compliant."
He continued: "Compliance aside, good data should be considered the lifeblood
of any organisation - it facilitates operational efficiency, cost saving and
competitive advantage."

The survey identifies that although 73% of respondents cite
compliance as the primary motive for investment in data management, six out
of 10 organisations report that responsibility for maintaining data quality
remains scattered across multiple departments or is held within individual
business units making confident reporting of data across the enterprise hard
to achieve. Sixteen percent of institutions surveyed claimed that "no one has
specific responsibility" for managing their data.

A data protection advisor at a firm with more than 2000 employees summed 
up one of the key challenges facing financial services advisors in the next 
12 months:

"Ensuring you are fully aware of what data you hold and in what form - 
who can access it and where you are sending the data -is the key
to awareness of what data you hold, what you need to use it for and what it
is actually used for."

Other key research highlights

Data governance projects are high on the agenda: One-third of
respondents have already implemented in this area with about the same number
(32%) currently implementing or considering implementation of a data
governance project.

Nine out of 10 respondents think there will be increased data-focused 
regulation in the next five years: Key areas highlighted were data security 
and fraud prevention but many respondents also felt regulation would go 
further than just security, and would focus on the accuracy and validity of 
data.

Survey respondents share their views on data management

"Validity. Making sure that the data is valid. Making sure that it isn't 
in breach of the Data Protection Act" - IT manager, commenting on future 
regulation

"The focus (will be) on information security. Customers (will be) fully 
aware that data is being transferred overseas for administration purposes"
- Compliance manager, commenting on future regulation

"(The future of regulation) is going to be...continued maintenance in 
order to keep data as accurate as possible. Also making sure customer 
information is as up-to-date and accurate as possible in order for
customers to have confidence in what we hold is correct." - Data quality
manager, commenting on data challenges in 2009

"It's going to be the accuracy mainly for all prevention. Accuracy is 
going to be key because of the current climate we're in" - Data protection 
manager, commenting on future regulation

About the research

Research was conducted by BDRC amongst senior professionals
with responsibility for data management at UK-based financial services
companies with over 500 employees. The number of companies that met the
research criteria was c160 at the time. In-depth telephone interviews were
conducted with individuals at 44 of these companies, achieving an
above-average 28% penetration rate for this type of business research.

To download the full research report please visit
http://www.dataflux.com/UK-Financial

About DataFlux

DataFlux enables organisations to analyse, improve and control their data
through an integrated technology platform. With DataFlux enterprise data
quality and data integration products, organisations can more effectively and
efficiently build a solid information foundation that delivers a unified view
of customers, products, suppliers or any other corporate data asset. A wholly
owned subsidiary of SAS (http://www.sas.com), DataFlux helps customers 
rapidly assess and improve problematic data, building the foundation for data
governance, compliance and master data management (MDM) initiatives. To learn
more about DataFlux, visit http://www.dataflux.com.

About BDRC

Founded in 1991, Business Development Research Consultants is a leading
full service market research agency. Working primarily for service
organisations, the company specialises in hotels, finance, travel and tourism
and mobile telephony. The acquisition of Continental Research at the
beginning of 2008 added media and advertising, public sector and technology
research expertise to the portfolio of market sectors covered. Headquartered
in London, BDRC works internationally and has additional representation in
South Africa and Asia. For more information, please visit
http://www.bdrc.co.uk.

DataFlux and all other DataFlux Corporation LLC product or service names
are registered trademarks or trademarks of, or licensed to, DataFlux
Corporation LLC in the USA and other countries. (R) indicates USA
registration. Other brand and product names are trademarks of their
respective companies.

Media contacts:
    Nick Ward / Helen Fitzhugh
    Clarke Mulder Purdie on behalf of DataFlux
    +44(0)20-7401-8001
    nward@cmpcommunications.com / hfitzhugh@cmpcommunications.com