The new software will help financial institutions improve the timeliness and quality of their market, reference and risk data services, while supporting continuous gains in operational efficiency.
Offering real-time visualisation of complex data supply chains, and with a companion mobile app for remote supervision of operational activity, Data Service Manager brings a new dimension to financial data management. With unprecedented gains in visibility and mobility, organisations can track their data management processes and monitor performance against SLAs - at any time, from anywhere.
Data Service Manager will assist with regulatory compliance, making it easier to integrate reference and market data sources into the flexible risk aggregation frameworks required to comply with the principle of BCBS 239.
Richard Petti, CEO of Asset Control, comments:
"Data and Risk Managers are increasingly telling us how essential it is to address regulatory requirements, starting with a clear data infrastructure. It is not only the regulatory environment that has changed fundamentally, but also the way financial institutions have to operate and interact. A single transparent source of all information, with visibility of processes, their interactions and seamless audit trails will go a long way towards realising the objectives of this new compliance landscape.
"We are therefore excited to launch Data Service Manager, designed as the first step in this process, enabling firms to stay ahead of the game."
Performance and contribution of upstream data vendors can be challenged (with the necessary audit trails), reviews are easier, and controls can be added during data processing. Finally, Data Service Manager allows early detection of quality issues, patterns in workloads and inefficiencies, enabling continuous improvement.
Ultimately, by reducing inefficiencies in processing, increasing transparency and adding controls, the cost of providing quality data to end-users can be reduced and service delivery can be increased.
Boyke Baboelal, Senior Product Manager at Asset Control, adds:
"Insight into the flows and quality controls on information has become a critical regulatory requirement. Banks are looking towards a universal data management infrastructure that can ensure consistency and visibility of market data and risk parameters across an organisation. Our Data Service Manager delivers just that."
"Data Service Manager will empower data management teams to efficiently meet their SLAs and help them keep up with the ever-evolving regulatory landscape."