Data distribution remains inefficient, exposing companies and customers across the financial services sector to commercial, regulatory and financial risk.
That’s according to a study we conducted in partnership with IBR Conference ahead of the Unit Pricing Forum held in Sydney.
Through the study, we found that over 50% of unit prices were received and distributed by email and SFTP transfers. Additionally, 85% of respondents said they still do validation checks on spreadsheets, with 48% saying they had to source and compare unit prices from more than one source.
Lastly, while 80% said their time requirements were met by current processes, 70% said the prices they received were not always 100% accurate.
These findings were shared at the Unit Pricing Forum where Managing Director Gordon Little spoke covering the impact blockchain technology will have on unit pricing and how The Gateway uses blockchain to mitigate distribution risks for industry participants.