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

BBVA Selects Markit EDM as a Central Hub for its Enterprise Data

Subscribe to our newsletter

BBVA Asset Management has selected Markit’s Enterprise Data Management (EDM) platform to centralise and streamline its data. Markit secured the contract after a competitive selection process including workshops and a final proof of concept.

The platform will replace a mix of point-to-point and in-house developed data management solutions and will act as a central hub for all BBVA’s enterprise data, including securities, portfolio, fund, issuer and position data in several countries including Spain, the firm’s headquarters, and Mexico.

BBVA selected Markit on the strength of its platform’s flexibility, customer references and a successful proof of concept. The firm plans to phase in the EDM solution from April next year and will be supported by Markit staff in the early stages.

Daniel Simpson, managing director and head of enterprise software at Markit, says: “What resonates with financial services firms is our ability to provide an holistic view of clean, high quality data from a central hub. BBVA’s global implementation of Markit EDM will allow the firm to centralise its data across continents and use it as a strategic advantage.”

While the implementation of Markit EDM is a significant project for BBVA, it is also a good win of a local Spanish client for Markit, which to date has amassed only a small number of clients in Spain, mostly subsidiaries of UK or US customers. The contract will also expand Markit’s presence in South America, where it already works with HSBC Asset Management in Mexico. Brazil and Mexico are the first South American countries being targeted by Markit from New York, but it is considering whether to enter other markets in the region.

Markit provides its EDM solution for local implementation, as a software-as-a-service (SaaS) hosted solution and as a fully managed service including data maintenance. Simpson says market desire to outsource non-proprietary data is driving particular interest in the SaaS solution, which has been available in the market for a couple of years and is expected to achieve a couple of contract wins late this year or early next year.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: The challenges and potential of data marketplaces

Data is the lifeblood of capital markets. It is also a valuable commodity providing financial institutions with additional insight when gathered in an internal data marketplace, or packaged and sold externally to other institutions. While the theory is sound, the practice of setting up a data marketplace can be challenging. Internally, vast amounts of data...

BLOG

Darlington Building Society Taps LexisNexis’ RiskNarrative to Combat Financial Crime

Darlington Building Society has selected LexisNexis Risk Solutions’ RiskNarrative platform to support its financial crime prevention strategy and improve its existing online member portal experience and customer onboarding journeys. The implementation is part of the UK building society’s ongoing digital transformation programme to digitalise its overall customer journey, including automated document verification and due diligence...

EVENT

RegTech Summit New York

Now in its 6th year, the RegTech Summit in New York will bring together the regtech ecosystem to explore how the North American capital markets financial industry can leverage technology to drive innovation, cut costs and support regulatory change.

GUIDE

Regulatory Data Handbook 2022/2023 – Tenth Edition

Welcome to the tenth edition of A-Team Group’s Regulatory Data Handbook, a publication that has tracked new regulations, amendments, implementation and data management requirements as regulatory change has impacted global capital markets participants over the past 10 years. This edition of the handbook includes new regulations and highlights some of the major regulatory interventions challenging...