About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

EDM Council Launches Cloud Data Management Work Group

Subscribe to our newsletter

Data management trade association the EDM Council this week launched the Cloud Data Management Capabilities (CDMC) Best Practices Work Group, with participation from players including Amazon Web Services (AWS), Google Cloud, IBM Cloud, and Microsoft Azure, as well as over 20 prominent financial industry firms. Co-chaired by Morgan Stanley and Refinitiv, project management is provided by Capco.

Cloud implementations typically face a common series of complex data, technology, operational and control challenges; while the industry also still lacks a common end-to-end cloud data management best practice framework. The group is therefore tasked with developing an open source CDMC Best Practice Framework to accelerate Cloud adoption and automate the associated controls. The framework will be based upon the EDM Council’s Data Management Capability Assessment Model (DCAM), a formal framework used to assess a firm’s data management capabilities through a consistent scoring model that has already been adopted by 60% of financial organizations globally that use data management frameworks.

“We’re experiencing a transformational moment in data management. Industry is rapidly evolving the need to securely access and extract value from exponential volumes of data via the Cloud,” says John Bottega, President, EDM Council. “It’s imperative that firms implement data management best practices in their cloud strategies.”

While the initiative is currently focused on the financial services sector, it will expand cross-industry to help firms in multiple verticals to navigate the growing complexity of cloud adoption. Data security and privacy rules have become an even greater focus worldwide as the COVID-19 pandemic has forced firms to work remotely and reassess business strategies. This has increased cost and margin pressures, driving companies to accelerate cloud adoption and leverage new data management practices.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: How to simplify and modernize data architecture to unleash data value and innovation

The data needs of financial institutions are growing at pace as new formats and greater volumes of information are integrated into their systems. With this has come greater complexity in managing and governing that data, amplifying pain points along data pipelines. In response, innovative new streamlined and flexible architectures have emerged that can absorb and...

BLOG

EU’s AI Act Seen Strengthening Data Foundations but not Without Challenges

The European Union’s Artificial Intelligence Act, which went into force this month, has presented financial institutions with huge opportunities but also some grave challenges, each of which can only be managed with a strong data foundation. Industry professionals have said that the Act’s provisions, though extensive, can bring clarity to a muddled regulatory view of...

EVENT

RegTech Summit London

Now in its 9th year, the RegTech Summit in London will bring together the RegTech ecosystem to explore how the European capital markets financial industry can leverage technology to drive innovation, cut costs and support regulatory change.

GUIDE

AI in Capital Markets: Practical Insight for a Transforming Industry – Free Handbook

AI is no longer on the horizon – it’s embedded in the infrastructure of modern capital markets. But separating real impact from inflated promises requires a grounded, practical understanding. The AI in Capital Markets Handbook 2025 provides exactly that. Designed for data-driven professionals across the trade life-cycle, compliance, infrastructure, and strategy, this handbook goes beyond...