: All financial data spreads across more than one system, involving, as well as external sources. Generally, this makes it quite tough to integrate all this. Format variation as well as variations in data structures cause compatibility issues that allow complications to slumber behind integration and analysis but this .
Data Security and Privacy: Financial data is so sensitive, and any violation can be very strict. Collecting financial data protects it from cyber attacks that might threaten the organization through its data privacy as well as complying with some legal regulations such as GDPR rules, which govern data handling and sharing.

Regulatory Compliance: The financial industry is strictly regulated, and its compliance requirements are severe in the form of IFRS, GAAP, and regional tax laws. Non-compliance may attract legal consequences and reputational damage. Getting data meeting regulatory standards is cumbersome as one has to follow strict guidelines of the compliance requirements.
In this fast-moving market environment, real-time data is more valuable. More so, collection and processing depend more on the limitation of the system, higher costs, and the necessity of a higher data-processing capability for analysis to occur well in time and still be relevant.