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

Mizuho International’s Implementation of GoldenSource EDM Reduces Operational Risk and Improves Data Quality

Subscribe to our newsletter

Mizuho International has reduced operational risk, improved data quality and cut down the time it takes to onboard clients by replacing legacy systems and manual processes with an enterprise data management (EDM) solution from GoldenSource.

The London-based securities and investment banking arm of Mizuho Securities, part of the Mizuho Financial Group, selected GoldenSource EDM in December 2013 after deciding that the pressure of meeting regulatory requirements was too big to manage using legacy systems and manual processes. The solution went live late last year after a 10-month project that implemented GoldenSource as a centralised entity master to support client and counterparty management across the company’s trading, risk and compliance functions.

As well as helping the company reduce client onboarding time and operational risk, and improve data quality, the GoldenSource platform provides a base for business growth, improved data governance and regulatory compliance. Kevin Gage, chief information officer at Mizuho International, explains: “GoldenSource is being used by a broad spectrum of over 140 users, ranging from front office traders and directors to risk and compliance teams. Operational processing and interaction between different areas of the business has become far more streamlined, improving the business user experience. Further, the transition to a central hub for all legal entity data, is helping to improve our data governance framework as well as facilitate compliance with existing and emerging regulatory requirements.”

With the GoldenSource platform up and running across the business, Mizuho intends to continue to develop its capabilities and add new datasets. The platform is also expected to support the company’s compliance with the data management requirements of the Basel Committee regulation BCBS 239.

For GoldenSource, Mizuho International adds to other London-based clients using the company’s EDM software for entity data management. Stephen Engdahl, senior vice president of product strategy at GoldenSource, comments: “We all talk a lot about regulation, the legal entity identifier and so on, but here is a financial institution that has successfully implemented a solution that will provide great benefits including support for regulatory compliance, increased data accuracy and reduced operational costs.”

Subscribe to our newsletter

Related content

WEBINAR

Upcoming Webinar: Taking a holistic approach to buy-side data management

Date: 7 February 2023 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes As data volumes and complexity continue to increase, buy-side data management is at an inflection point. Manual processes and data siloes are no longer fit for purpose, and firms need to take a more holistic approach to data management...

BLOG

FCA Fines Citigroup Global Markets £12.5 Million for Market Abuse Failings

The UK’s Financial Conduct Authority (FCA) has issued Citigroup Global Markets with a fine of more than £12 million for failing to properly implement the EU’s Market Abuse Regulation (MAR) trade surveillance requirements. The failure meant that Citigroup Global Markets could not effectively monitor its trading activities for certain types of insider dealing and market...

EVENT

Data Management Summit London

Now in its 13th year, the Data Management Summit (DMS) in London brings together the European capital markets enterprise data management community, to explore how data strategy is evolving to drive business outcomes and speed to market in changing times.

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...