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Aozora Adds Counterparty Data To GoldenSource Implementation

Aozora Bank of Japan has added GoldenSource’s Counterparty Solution to the broad data management platform it is currently implementing across all of its operations. The Japanese bank last year selected GoldenSource’s Enterprise Data Management (EDM) Suite to provide the technology infrastructure for a centralized and cleansed repository for all types of reference data, including customer, security and, now, counterparty data.

The addition of counterparty data to the implementation represents the culmination of the first phase of the project. Future phases will include linking the reference data management capability for use in various compliance-related document management scenarios.

Like many of its peers globally, Aozora Bank is striving to meet the gamut of new regulations that is forcing financial institutions to look closely at how they manage client and counterparty data, in particular. Anti-Money Laundering (AML), Know Your Customer (KYC) and other risk-related regulations are requiring institutions to maintain accurate, integrated counterparty data.

The GoldenSource EDM project at Aozora aims to provide the bank with a broad data management environment that will draw upon reference data, including counterparty data, to provide auditable document management. The GoldenSource Counterparty Solution is designed to access, transform and integrate counterparty data from a variety of enterprise systems and deliver that information in real time to other transactional systems throughout the bank to support decision-making.

As part of this initial phase, GoldenSource software has been integrated into Aozora Bank’s workflow, notably by displaying a number of user interface screens in Kanji, in what GoldenSource believes to be one of the first reference data management solutions to be translated into the Japanese language.

The Counterparty Solution implementation was led by a joint team established by Aozora and GoldenSource. The team worked together to solve problems quickly and ensure project momentum was not lost. The partners plan to take the same approach for the remainder of the project.

Aozora’s technology division licensed the full GoldenSource EDM suite, as well as GoldenSource Accounting and GoldenSource Actions last spring. The bank expects the comprehensive data management platform to eliminate costly duplicate data management efforts and provide a source of consistent information for all downstream applications.
As well as supporting accounting and corporate actions, the platform ultimately will provide the infrastructure for delivering data into Aozora’s risk management, asset management and analytical applications. As such, the platform will access a broad range of data types, including operational, analytical, indicative and transactional data.

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