A new survey by Eze Castle Integration has highlighted the current technology and cybersecurity priorities for investment management firms.
The 2019 Global Investment Management Survey, conducted in partnership with Microsoft and IDG Research, canvassed the views of 150 senior-level executives from the United States and United Kingdom, and its findings cover technology priorities, cybersecurity plans and concerns, outsourcing attitudes and trends, and IT budgeting.
The study shows that small and midsized investment firms worldwide are focused on building out their IT infrastructures. Seventy percent of respondents surveyed indicated IT investment as their top organisational aim (24 per cent) or ranked it among their highest priorities (46 per cent). Modernising legacy data infrastructures was also a noted priority with 49 per cent reporting these projects are underway and 45 per cent stating the project is planned.
Increased protection from cybersecurity threats ranked as a key driver for IT investments, with almost three quarters of respondents claiming they are very or extremely concerned about cybersecurity threats. With that said, investment firms are developing robust data security programs. Top implemented cybersecurity initiatives underway include formal cybersecurity risk management (65 per cent), employee security awareness training (62 per cent), establishing preventative measures (61 per cent), and implementing cyber countermeasures (55 per cent).
The survey indicated that managed cloud computing and outsourced IT services were immensely popular, with four out of five respondents attesting to leveraging one or both of these offerings. Those that haven’t outsourced to the cloud or contracted with outside IT groups said they plan to in the near future. They ranked the top benefits as security, cost savings, and around the clock network management.