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: Perpetual KYC: compliance as the source of better business

Perpetual KYC (pKYC) opens the door for financial institutions and corporations to improve customer onboarding & monitoring processes, reduce operational costs, ensure regulatory compliance, and better understand risk exposures in real time. Unlike traditional or periodic KYC, pKYC continually reviews and updates client data in near real-time providing ongoing data accuracy and accurate risk management....

BLOG

Alveo Sets Sights on Accelerating Market Data Migration to Cloud and Improving Business User Access to Data

Alveo has set out its next stage strategy with a focus on two key themes – accelerating client migration of market data to cloud, and building out its self-service data provision for business users. Also on the agenda are ESG data management, industry partnerships, and development of AI tools. To find out more about the...

EVENT

A-Team Briefing: Cloud Innovation for Data Ops

This Innovation Briefing will explore approaches to data infrastructure transformation, technologies required and how to make sure processes are optimised to support real time data management. Hear from leading practitioners and innovative technology solution providers who will share insight into how to set up and leverage your data infrastructure to provide user access to consistent data and analytics, and companies the ability to monetise their data.

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...