News
| A major investment bank and one of the leading international financial service providers |
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Products Purchased: GoldenSource Enterprise Data Management and GoldenSource Accounting Key Stakeholders: Operations and trading in New York and Global Corporate and Institutions area in UK Business Challenge: Enable the firm to eliminate redundant data, provide a single point of acquisition, and minimize manual intervention wherever possible. The solution needed to be able to operate in a global environment, be highly scalable to support volumes and anticipate market changes. Additionally, the firm wanted a single-source of consistent financial information for the bank's control activities to support a global financial reporting and internal control strategy for the Global Corporate and Institutions business. Solution: GoldenSource's Enterprise Data Management platform was chosen because it could achieve required scalability as well as centralize their security processing needs. GoldenSource's software is well equipped to help improve the bank's existing business process workflows by leveraging the software's inherent cross-reference functionality and it helps them achieve their future growth initiatives. GoldenSource's Securities & Products and GoldenSource Customer provides the framework for managing customer, product and market data while GoldenSource Accounting supports the accounting and controlling function. Both integrated applications are based on the GoldenSource Datamodel, the leading industry global financial data model. After an extensive survey, GoldenSource's Enterprise Data Management suite and GoldenSource Accounting solution were determined to be the only integrated platform capable of meeting requirements for technical architecture and near-real time exception based processing to support the operations and finance functions of the global equities business. Benefits: The Bank has been able to derive improved insight into their customer base. This has enhanced their ability to up-sell and cross-sell to their customers. In addition to facilitating this sales and marketing objective, the Bank has been able to retire many legacy systems as well as reduce risk through increased P&L control, and contract matching. As a result, significant cost savings have been delivered to the business which has maintained project funding and momentum for further business re-engineering efforts.
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