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Financial Services Firms Driving Blind with Risky Reliance on “Tribal Knowledge”

February 24, 2014

XTRAC Solutions, provider of cloud-based Workflow and Document Management technology for the Financial Services and other highly regulated industries, releases findings from a Technology Adoption Profile (TAP), a December 2013 commissioned study conducted by Forrester Consulting on behalf of XTRAC. Findings and their implications also will be discussed during a webinar. 


Despite an increasingly complex business environment, many financial services firms still rely on employees’ common but undocumented experiences – or their “Tribal Knowledge” – to run day-to-day business processes. 

Companies’ biggest challenges: 

  • Compliance testing and audit, citing in particular an uncomfortable level of risk inherent in the process. 
  • Managing client accounts across multiple departments and multiple locations. 
  • Having no precise way to measure progress, lacking full visibility into their own business processes. 


The full study is available on the XTRAC website: 


Financial Institutions Driving Blind: The hidden risk to your business you may not know you have 


Wednesday, February 26, 2014, 11:00 a.m. – 12:00 p.m. (EST) 


Guest Presenter: Craig Le Clair, VP and Principal Analyst, Forrester Research, Inc. 


Register Now


XTRAC Solutions, an independently operated subsidiary of Fidelity Investments® is a leader in business processing, workflow and document management. Founded 20 years ago at Fidelity®, XTRAC is the engine for continuous improvement across the firm. More than 30,000 individuals in 75 companies use XTRAC to improve client experiences, grow their businesses with operational efficiency, and remain compliant in a highly complex and demanding regulatory environment. XTRAC is headquartered in Boston, Mass. and employs more than 175 people in multiple sites around the U.S. and the world. For more information about XTRAC, visit:


Fidelity Investments is one of the world’s largest providers of financial services, with assets under administration of $4.5 trillion, including managed assets of $1.9 trillion, as of January 31, 2014. Founded in 1946, the firm is a leading provider of investment management, retirement planning, portfolio guidance, brokerage, benefits outsourcing and many other financial products and services to more than 20 million individuals and institutions, as well as through 5,000 financial intermediary firms. For more information about Fidelity Investments, visit


Phyllis Laorenza Linnehan

Steve Austin
617- 563-0636 

Fidelity Corporate Media Relations 

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