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Siemens Financial Services selects GoldenSource to implement a single market data hub

Siemens selects GoldenSource

GoldenSource, a leading independent provider of Enterprise Data Management (EDM) solutions to the securities and investment industry, announced today that the Financial Services unit of Siemens (SFS), a Munich-based international financial services provider and integral part of the Siemens Group, has chosen to increase data quality, improve efficiency, and reduce operational risk in market data and pricing areas using GoldenSource Securities & Products and GoldenSource Insight.

Siemens Financial Services’ implementation of GoldenSource will yield important business benefits including reduced operational risk and cost through the automation of market data validation, verification and entitlement, as well as increased operational efficiency. The solution will also enable a significant and measurable increase in data quality through the establishment of a golden copy, process optimization and standardization, as well as greater levels of control and transparency for regulatory and compliance requirements.

In addition, GoldenSource Insight, a sophisticated data visualization tool, will deliver critical information about exposure, data quality, and data operations to the Siemens business users in dashboard form, enabling them to make more informed, proactive decisions based on trusted data from the GoldenSource market data hub.

Siemens selects GoldenSource after an extensive evaluation process, based on the strength of its canonical data model, as well as its proven ability to support the validation rules and workflows, reporting, auditability, distribution and entitlement capabilities required by SFS.

“Our objective is to vastly simplify our existing system architecture by implementing a single, centralized market data platform,” said Axel Schulte, CIO of Siemens Financial Services. “We selected GoldenSource because of their integrated solution as opposed to tool-kit based approach to managing market data. There are very clear synergies in our needs and GoldenSource’s core product offering.”

Massimo Broggi, GoldenSource EMEA Head of Sales added: “We are delighted to be partnering with SFS on this strategic project and look forward to helping them achieve their business objectives through establishing best practices for market data management. Germany is a key region for GoldenSource and we’re pleased to be growing our German client base.”

About Siemens Financial Services (SFS)

SFS is an international provider of business-to-business financial solutions. Leveraging our specialist financing and technology expertise in the areas of energy, healthcare, industry and infrastructure and cities, SFS supports customer investments with leasing solutions and equipment, project and structured financing. SFS provides capital for Siemens customers as well as external companies and serves as an expert adviser for financial risks within Siemens. SFS’ financial and industry know-how creates customer value and enhances customer competitiveness. And the fact remains: Financing builds trust in new technologies and facilitates their market launch. For more information, visit: www.siemens.com/finance

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