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

CounterpartyLink Introduces Full Product; Enters New Distribution Deal with GoldenSource

Subscribe to our newsletter

Following its soft launch in February CounterpartyLink has officially launched a full version of its data service. The official launch includes full functionality, replacing the previous sample data the company has relied upon.

The vendor has also entered a new third-party distribution deal with enterprise data management company GoldenSource. This is part of its strategy to provide wide access to its data through partnerships and follows an earlier deal with Capco and of course sister company Cicada. It appears that CPL is also involved in the new counterparty data cleansing initiative from the London Stock Exchange. Discussions are still ongoing with other data management technology providers, such as Accenture.

Along with partnerships, CPL has taken the decision, says managing director Christoph Lammersdorf, to build up its own direct sales team. As such it is looking to hire a sales person in London and one in New York.

Several employees from Cicada, sister company of CounterpartyLink, have also transferred to CPL, including around 25 data managers based in Oklahoma. This team is being run by Sicily Tincher, director of data quality management. She reports to Kevin Stacey who is running operations and also transferred from Cicada, as did James Redfern, head of third-party relationships. CPL has also built up its team of data analysts in addition to the Oklahoma group by hiring in Egypt, Romania, China and India, bringing the total number of employees to around 200. There are also plans to bring on board a team in Mexico in September.

Lammersdoft says, “We have clients now in testing with the service in the U.K., mainland Europe and the U.S”. Most of the interest to date, he says, has come from those managers within financial institutions’ account opening areas and linkages.

The focus of CPL is purely data, says Lammersdorf. “We do not do processes, as that’s where other software companies, such as our partners, have strength and can add value.”

The deal with GoldenSource will see a new CounterpartyLink Connector being created to provide access to CPL legal entity and counterparty data to GoldenSource clients. The service will enable clients to “maintain accurate hierarchy relationship information in a single trusted repository, fully supported by an audit trail to meet regulatory and compliance obligations”.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: How to automate entity data management and due diligence to ensure efficiency, accuracy and compliance

Requesting, gathering, analysing and monitoring customer, vendor and partner entity data is time consuming, and often a tedious manual process. This can slow down customer relationships and expose financial institutions to risk from inaccurate, incomplete or outdated data – but there are solutions to these problems. This webinar will consider the challenges of sourcing and...

BLOG

Encompass Plans Corporate Digital Identity Platform Following Acquisition of CoorpID and Blacksmith KYC

Encompass Corporation, a provider of real-time digital Know Your Customer (KYC) profiles, has acquired CoorpID and Blacksmith KYC from ING to develop a platform that solves the critical challenge of identification and verification of corporate and institutional clients. ING will be a stakeholder and development partner to Encompass and will use the platform in the...

EVENT

AI in Capital Markets Summit London

The AI in Capital Markets Summit will explore current and emerging trends in AI, the potential of Generative AI and LLMs and how AI can be applied for efficiencies and business value across a number of use cases, in the front and back office of financial institutions. The agenda will explore the risks and challenges of adopting AI and the foundational technologies and data management capabilities that underpin successful deployment.

GUIDE

Entity Data Management Handbook – Second Edition

Entity data management is this year’s hot topic as financial firms focus on entity data to gain a better understanding of customers, improve risk management and meet regulatory compliance requirements. Data management programmes that enrich the Legal Entity Identifier with hierarchy data and links to other datasets can also add real value, including new business...