Bank spending on legal entity data management is expected to reach approximately $197.5 million by 2015, according to figures compiled by analyst house Aite.
These figures look modest and will be much much higher. LEI has wide industry benefits and impacts and will probably create a doubling up of costs as most banks will need to run legacy numbering along with new and have transformation technology. The architecture
to handle all this will be very expensive and need some legacy replacement as well. If banks could do all this for $197.5m it looks cheap
£100,000 plus bonusCentral London
© Finextra Research 2014