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

Consorzio Operativo MPS Plans Implementation of GoldenSource Customers and Counterparties Solution

Subscribe to our newsletter

Consorzio Operativo MPS, the technology arm of Banca Monte Dei Paschi di Siena, the world’s oldest bank and flagship of the MPS Group, has selected the GoldenSource Customers and Counterparties data management solution to create, maintain and publish a standardised reference data repository for the group’s counterparty data.

The technology operation is already rolling out the GoldenSource Securities and Products solution, but considered entity data management options from both local and global enterprise data management solution providers before selecting GoldenSource Customers and Counterparties. The software will centralise counterparty data and provide a single view of entity data, including an accurate representation of complex corporate hierarchies. It will also link to Securities and Products data in an integrated data architecture based on GoldenSource’s core data model.

Consorzio Operativo MPS was previously running a number of trading and risk systems, each with their own counterparty data, and secured funding to centralise the data on the basis of reducing counterparty risk, improving operational efficiency, improving time to market and assuring compliance with existing and emerging regulations.

Enrico Farina, manager of Consorzio Operativo MPS, explains: “We selected GoldenSource because it offered us a complete and innovative integrated solution to process all the financial data used by the business. This project is fundamental to MPS Group’s long-term strategy of growing the business. GoldenSource will enable us to significantly reduce onboarding times by providing a quick and efficient process. Moving to an automated, workflow-based approach will also significantly reduce our level of operational risk and improve data quality.”

Going forward, the counterparty and securities data solutions will be implemented in parallel by a joint team of staff from GoldenSource professional services and Consorzio Operativo MPS. The project status is currently moving from high level to detailed planning with deliverables expected through next year.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Solving the operations talent crisis

With financial services in the grip of the Great Resignation, operations – a function which has always found recruitment and retention of talent difficult – is facing challenging times. Business growth is a must, but with scaling comes the cost and complexity of additional headcount. How can you ensure that these constraints don’t hold your...

BLOG

Join Data Management Summit London to Explore the Pros and Cons of Data Migration to Cloud

Data migration to the cloud must be business driven, based on strategy, and include an understanding of data relationships, access paths and potential performance. The benefits of getting it right can be significant to the business and help firms move away from legacy systems. The penalties of getting it wrong, particularly as a result of...

EVENT

RegTech Summit London

Now in its 6th 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

Practical Applications of the Global LEI – Client On-Boarding and Beyond

The time for talking is over. The time for action is now. A bit melodramatic, perhaps, but given last month’s official launch of the global legal entity identifier (LEI) standard, practitioners are rolling up their sleeves and getting on with figuring out how to incorporate the new identifier into their customer and entity data infrastructures....