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

Opus Resolve API Searches Multiple Entity Databases in Real Time

Subscribe to our newsletter

Opus, parent of Alacra, has introduced Resolve API, an application programming interface designed to help firms search multiple entity databases in real time and speed up the integration of entity reference data with businesses processes. A couple of early adopter banks are using the solution to maintain a single and accurate view of client records across their organisations, while prospects are considering the product for use cases such as Know Your Customer (KYC), client onboarding and regulatory compliance.

Resolve API has been built to provide quick, easy and complete access to all major identifiers and content for legal entities. It includes a type-ahead function, which is based on the name of the entity or any of its public identifiers, to support rapid retrieval of entity reference data and can search across databases including financial institutions’ databases that are maintained by Opus, the Alacra Authority File, and databases held by premium providers in the Opus portfolio of data partners.

Kelvin Dickenson, head of compliance and data solutions at Opus, says firms have traditionally searched for and retrieved entity data records from their own and other entity databases using large batch files that must be processed to make data available for business applications. The focus on data quality has been minimal.

Moving forward, he explains: “There is an increasing desire to mobilise clean data across the enterprise. The Resolve API allows a rapid search of multiple databases simultaneously. It avoids cumbersome batch processes and delivers a real-time transactional process that is easy to use to search entity data.”

Data quality is improved through the ability to retrieve entity data from one database and simultaneously look at internal records and those held in other databases. Dickenson comments: “You could start KYC with golden copies of entity data and ensure data quality from day one.”

While Resolve API can access entity data rapidly and make reference data more available to processes such as KYC, Dickenson suggests it won’t replace batch processing, but rather augment it, perhaps when there is a need to source one accurate entity data record.

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

An Integrated Approach to Combating Financial Crime

Digital transformation in the capital markets sector has given rise to a dramatic increase in the volume of transactions and data, particularly in highly liquid markets. This increase coupled with complexities in cross-border and cross-product trading activity and innovations in financial assets (crypto, digital assets) has created a fertile ground for criminal exploitation. Financial crime...

EVENT

Data Management Summit New York City

Now in its 14th year the Data Management Summit NYC brings together the North American data management community to explore how data strategy is evolving to drive business outcomes and speed to market in changing times.

GUIDE

Hosted/Managed Services

The on-site data management model is broken. Resources have been squeezed to breaking point. The industry needs a new operating model if it is truly to do more with less. Can hosted/managed services provide the answer? Can the marketplace really create and maintain a utility-based approach to reference data management? And if so, how can...