This article references data obtained from Dell Technologies and is based on an article originally published by the Wall Street Journal.
This graphic illustrates the amount of client data accessible by technology firms across industries. While the graphic, posted by the Wall Street Journal, is intended to highlight the growth in access to healthcare patients’ data by third party technology firms, it is notable that in just two years the Financial Industry has seen a tremendous increase as well. In 2018, the Financial Industry ranked as having the highest amount of accessible data out of 9 categories—with an increase to 16.19 petabytes (approx. 16.97 million gigabytes) from 2016’s 1.53 petabytes (approx. 1.60 million gigabytes). This highlights how transparency and data access are becoming more prevalent among financial institutions. As transparency continues to increase, and FX buyers use data analytics, we believe FX Markups will continue to decline.