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

Refinitiv Puts Data and Compute in the Cloud to Deliver PRIIPs Compliance Service

Subscribe to our newsletter

Refinitiv is building out cloud capability by providing a menu of data and services that breaks down its traditional product outlook. Clients can select the capabilities and content they need, compute is performed in the cloud, and longer term, cloud is expected to unlock some of the costs of platforms, people and processes.

An example of Refinitiv’s approach to providing both data and compute in the cloud is a recently released service for Packaged Retail and Insurance-based Investment Products (PRIIPs). The regulation is designed to avoid the sale of unsuitable products to consumers, and instead, provide them with clear product information they can use to understand and compare products before they invest. Essentially, sales of investment and insurance products to individual investors must provide fair value.

The Refinitiv service offers access to PRIIPs data and analytics in the cloud. Rather than trawling tick data to find client transactions and then running analytics to identify fair value, the solution allows the user to plug in parameters to identify and review fair value. In line with the industry’s migration to the cloud, nothing is needed on premise and savings can be made in the back office.

Commenting on the PRIIPs service and the wider potential of cloud, Marion Leslie, managing director of the Enterprise business at Refinitiv, says: “A real benefit of cloud is to unlock process resources in the back office around reference, pricing and valuations data. Putting just data in the cloud, or systems in the cloud and pulling data up and down is expensive. The need is to compute in the cloud, to put your master reference database and analytics in the cloud and compute there.”

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Potential and pitfalls of large language models and generative AI apps

Large language models (LLMs) and Generative AI applications are a hot topic in financial services, with vendors offering solutions, financial institutions adopting the technologies, and sceptics questioning their outcomes. That said, they are here to stay, and it may be that early adopters of Generative AI apps could gain not only operational benefits, but also...

BLOG

Bloomberg Releases GenAI-Powered Earnings Call Summaries

Bloomberg has released AI-Powered Earnings Call Summaries, the company’s first generative AI (GenAI) product for terminal users. The tool enables users to decipher complex financial information and quickly extract key insights on topics addressed by corporate management teams, such as guidance, capital allocation, hiring and labour plans, the macro environment, new products, supply chain issues,...

EVENT

Data Management Summit London

Now in its 14th 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 2023 – Eleventh Edition

Welcome to the eleventh edition of A-Team Group’s Regulatory Data Handbook, a popular publication that covers new regulations in capital markets, tracks regulatory change, and provides advice on the data, data management and implementation requirements of more than 30 regulations across UK, European, US and Asia-Pacific capital markets. This edition of the handbook includes new...