A Forrester Study on next-generation data platforms reveals that financial institutions are increasingly adopting these platforms due to the need to leverage data efficiently and overcome challenges posed by legacy technology. The study found that 57% of decision makers believe their legacy technology is too expensive, 50% say it cannot support transactional data volumes, and 47% struggle with rate of change required to stay up-to-date with customer expectations. Adoption of next-generation data platforms is already high, with nearly 90% of respondents saying they are adopting, and the benefits include freeing up teams to focus on innovation, enabling faster software builds, and improving security and risk management capabilities. The top drivers for investment in these platforms are multi-cloud capabilities, scalability, and real-time analytics capabilities. Financial institutions use next-generation data platforms to replace legacy technologies, reduce costs and complexity, and improve customer experience. The study highlights the importance of adopting a next-generation data platform to remain competitive and build experiences that retain customers.