Good data management has never been so important
Regulators' stringent demands for transparency and better reporting mean that good data management is now critical.
Financial institutions must act now to prepare for compliance by ensuring they have the right systems and processes in place to support cross-enterprise transparency. The GoldenSource 360 EDM platform is a centralized, strategic approach to data management that enables firms to improve data governance and meet compliance demands.
Regulation requires an integrated approach to data management
Regulations, the LEI, and the requirement for ‘real time’ exposure and risk analysis are driving a fundamental shift away from an isolated, security master-focused data strategy to an integrated approach, which focuses on the linkages between instruments, counterparties and issuers, positions, accounts, and transactions. Sound data management practices are the fundamental principle behind each regulation.
GoldenSource understands this requirement; unlike fragmented, point-to-point approaches to data management, we deliver an integrated 360 EDM solution with instrument, entity, and transaction data on a single platform.
Identify strategic benefits from regulatory projects
Regulation is forcing the adoption of data management best practices and, whilst regulation is often viewed as something to do “because we have to,” several strategic benefits can be derived from regulatory projects. The GoldenSource EDM platform enables leading financial institutions to realize these strategic gains and remain competitive.
Though the objectives and the specific implementation details of FATCA, EMIR, AIFMD, Dodd-Frank, and a host of other regulations are different from one another, there are some fundamental principles which all of them are driving toward. In particular, the concepts of transparency and cross-enterprise information aggregation apply to all.
Given the amount of cross-over in these fundamental principles, financial institutions that address regulations strategically, rather than with individual tactical solutions, operate at a far greater level of efficiency and business agility – driving their competitive advantage for the future. In the course of addressing regulatory issues they also cleanse, standardize, and aggregate critical data to enable them to improve the quality of their risk management processes, to know their customers better, and to put more of their capital to work.
It is important to remember that the data management best practices required by regulatory initiatives, including data aggregation, standardization, quality management, and transparency, can also be used for competitive gain. With the GoldenSource 360 EDM platform, financial institutions gain strategic benefits from their regulatory initiatives, including getting to know their customers better, operating more efficiently, quicker creation of new financial products and improved investment performance.
We help our clients to comply with a number of regulations, including:
- BCBS 239
- Solvency II
- Legal Entity Identifier (LEI)
- European Market Infrastructure Regulation (EMIR)