Harness The Right Tools For Financial Data Management

Banks and financial institutions are undergoing a sea change and today face an environment

marked by growing consolidation, rising customer expectations, increasing regulatory requirements, proliferating financial engineering, uprising technological innovation and mounting competition. This has increased the probability of failure or mistakes from the operations point of view resulting in increased focus on managing operational risks. Major challenges for banks continue to be Reference Data Management and Risk Management.

High quality, reliable data is essential to a firms ability to gain operational efficiencies, to help meet compliance requirements and mitigate risk. At the core of data management is the need for comprehensive valuation information and high quality reference data that can help financial institutions power mission critical operations. By prioritizing reference data management, institutions can get a more complete understanding of the financial instruments streaming through their applications and databases and, as a result, manage risk more effectively.

Better risk management may be the only truly necessary element of success in banking. There are some leading providers of Reference Data and Risk Management Software that operate on an international scope, servicing the major financial centres across the world. With the active support of their employees' who have expertise in the areas of reference data, risk management and financial instrument pricing, they create such leading edge software that significantly enhances the analysis of financial data and the pricing of instruments. They offer a reliable modular architecture that allows their customers to gradually scale the application according to their specific data needs. By drawing on their deep expertise in financial services, they provide their business partners with data and risk management solutions that are flexible and future-proof. Their Data Management Software and Risk Management Software support a vast number of data feeds and formats, and can process Corporate Actions, Static data, Reference data, and support Bloomberg, Telekurs, Apsys, Avaloq, and Decalog.

In order to analyze data successfully, a multi-stage approach is essential which combines different data analysis methods. The all-in-one software platform for reference data management and risk management, offered by the experts is scalable and covers small to large projects. It supports a variety of data feeds and manages all the financial data in one central place.

Financial institutions are beginning to realize that investments in reference data management and risk management can actually help to reduce not just the risks but also the costs. No matter what kind of company it is, a risk management system will help decrease the number of threats to the business!

by: Martin Buchberger

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