Top 5 Financial Technology Challenges Addressed by the Cloud
First Published Saturday, 25th February 2012 02:30 pm from Xand : Peter Curley
The opinions expressed by this blogger and those providing comments are theirs alone, this does not reflect the opinion of Automated Trader or any employee thereof. Automated Trader is not responsible for the accuracy of any of the information supplied by this article.
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Building
financial technology software has become an increasingly complex
endeavor with the proliferation of operating systems and the
intense demand for financial mobile apps. Financial technology
firms are also being driven by rapid changes in the consumer
software industry which has resulted in pressure for dramatically
shorter development cycles.
Now more than ever
financial technology software firms need to focus on what they do
best and seek to leave non-core activities to others. An obvious
candidate for this strategy is the area of market data
management. The infrastructure required to power today's
financial applications can be daunting. Fortunately, the market
data cloud offers a dramatically easier approach for both
financial technology firms and their end-users.
This post is the first in a multi-part series that
describes the top 5 financial technology challenges all addressed
by the market data cloud. In subsequent posts we will examine
each of these financial technology challenges in greater
detail.
Financial Technology Challenge #1
Focusing on building financial services applications, not data
management infrastructure
With intense pressure to release software as soon as
possible financial technology firms need to focus their finite
resources on what they do best, and leave resource-intensive
tasks such as data management to others. With an on-demand market
data cloud all the headaches involved
with building and maintaining a market data infrastructure are
instantly removed.
Financial Technology Challenge #2
Deploying your financial mobile apps in record
time
Traditionally
a major roadblock to launching mobile apps quickly was the
challenge associated with integrating proprietary flat files and
the data feeds necessary to power financial technology mobile
applications with market data. Today practically all financial
mobile applications can be quickly powered via open and
standardized cloud APIs. This approach can shorten deployment
times from weeks to hours.
Financial Technology Challenge #3
Accessing one market data cloud for all your current and future
needs
As the usage
of your application gains momentum it may make sense to offer
different types of data - maybe a different asset class
or perhaps market data from a different region. With an on-demand
market data cloud and its standardized data formats adding new
data sets as your requirements change can be accomplished within
hours. There is no need to deal with multiple vendors or data
formats.
Financial Technology Challenge #4
Reducing cost with pay-as-you-go
pricing
Market data
can become very expensive very quickly, especially when vendor
pricing models force you to pay for data you don't actually use.
Financial technology firms and their end-users can significantly
reduce cost by taking advantage of the on-demand pricing
structure of the market data cloud. Now just pay for what you use
and leave the rest of the data on the cloud.
Financial Technology
Challenge #5
Responding to regulation with
flexible reporting
Financial technology firms operate in a highly regulated
industry. Recent events have increased demands for transparency
from regulators and investors alike. Financial technology firms
must respond to this new regulatory environment by focusing on
the reporting capabilities of their applications. A key component
of flexible reporting is the ability to instantly enrich
reporting with multi-asset class data from an on-demand market
data cloud.
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