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| Global private bank |
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Products Purchased: GoldenSource Datamodel and GoldenSource Securities & Products Key Stakeholder: Operations & Development delivering data to eleven internal bank departments Business Challenge: Historically the Bank sourced data as it was needed on an application by application basis resulting in the duplication of data purchases and a larger than necessary IT overhead in interfacing and delivering the data. The Bank's goal was to develop a central cross-reference database for static / dynamic data on instruments as well as for corporate actions events. This would result in a single database that would provide quality information for the other systems of the bank. In addition, the Bank wanted to centrally handle all the instruments dealt with by the bank that are maintained for several purposes such as: securities trading, securities follow-up research and publication to downstream business systems and users. Solution: GoldenSource Securities & Products was chosen because it could be used as the central repository for static and dynamic data through which links to various data providers could be managed while providing consistent, validated data to end users and reporting tools. Benefits: The Bank established a data management program with the objective of improving the quality, timeliness and controls surrounding reference data while delivering a sustainable reduction in data related costs within three years. By choosing GoldenSource to deliver a robust, highly scalable instrument data infrastructure solution with Securities & Products it has now positioned itself for eCommerce and STP initiatives, removed capacity constraints, and created revenue opportunities by increasing the value of its data. In addition, the Securities & Products platform provides both Operations & Development a consistent source of data for new applications / systems, and therefore shortening implementation time frames.
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