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

Making the Case for Master Data Management

Subscribe to our newsletter

Master data management (MDM) is not a new concept for capital markets participants, but it can be an effective approach to data management when financial institutions face rising costs of ingesting, holding and using data, or when they restructure. Its benefits include streamlining workflows, reducing input error, lowering costs and unlocking the full value of data.

The challenges and opportunities of MDM are set out in a recent white paper – The Business Case for Master Data Management Transition Within Financial Institutions – published by A-Team Group and sponsored by Semarchy, provider of a unified data platform supporting MDM, applications data management, collaborative data governance, and data integration solutions.

The paper notes the role of MDM in ensuring the creation of a “single source of truth” of information for banks and financial institutions that not only means the data remains intact, but also makes it available and useable across the enterprise.

Considering why financial institutions need MDM it touches on: cash flow, MDM helps firms more efficiently monetise their data; compliance, assurance that all financial data conforms to compliance mandates; consolidation, combining data streams improves management of customer, partner, product and asset data; and clean data, presented as a single source of truth can underpin clear action.

On a wider scale, MDM can help firms meet expanding demand for access to high-quality data, and respond quickly to changing business demands while ensuring the integrity of the data will remain intact.

Moving on from the discussion of why a transition to MDM may be needed, the paper sets out a five step journey to success. Briefly, you can read more here, the steps comprise: identifying opportunities for MDM; creating a business case; building a governance plan; reviewing of current and future state architecture; and deploying, testing and reviewing the new setup.

In conclusion, the white paper acknowledges that there will be challenges in transitioning to MDM, but there will also be proven benefits of better operational effectiveness, greater efficiencies, reduced costs, and additional revenue generation.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: How to optimise SaaS data management solutions

Software-as-a-Service (SaaS) data management solutions go hand-in-hand with cloud technology, delivering not only SaaS benefits of agility, a reduced on-premise footprint and access to third-party expertise, but also the fast data delivery, productivity and efficiency gains provided by the cloud. This webinar will focus on the essentials of SaaS data management, including practical guidance on...

BLOG

How to Optimise SaaS Data Management Solutions

Software-as-a-Service (SaaS) data management solutions offer financial institutions significant business and operational gains including reduced cost, greater efficiency and productivity, fast time to market and access to third-party expertise. They also offer ease of deployment and management, with providers handling maintenance and software updates. So far, so good, but as with any technology, cloud-based SaaS...

EVENT

TradingTech Briefing New York

Our TradingTech Briefing in New York is aimed at senior-level decision makers in trading technology, electronic execution, trading architecture and offers a day packed with insight from practitioners and from innovative suppliers happy to share their experiences in dealing with the enterprise challenges facing our marketplace.

GUIDE

Complex Event Processing

Over the past couple of years, Complex Event Processing has emerged as a hot technology for the financial markets, and its flexibility has been leveraged in applications as diverse as market data cleansing, to algorithmic trading, to compliance monitoring, to risk management. CEP is a solution to many problems, which is one reason why the...