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Lack of Consistent Sanctions and Risk Customer Screening Standards Exposes Firms to Heightened Compliance Risk
Many large financial institutions are failing to implement consistent policies and procedures for sanctions, Politically Exposed Persons (PEP) and customer risk screening due to inconsistent, legacy-based systems, according to compliance screening and data management specialists, Datanomic. Fragmented and inconsistent legacy platforms with different criteria and capabilities deployed across multiple departments and/or countries are resulting in…
Fitch Solutions Launches Custom Data Service for Credit Markets
Managing data from multiple sources is proving to be troublesome for most firms and even more so in a stressed economy, according to Fitch Solutions, a division of the Fitch Group. In response, Fitch Solutions has launched an integrated data service (IDS) to meet growing user demand for a single, customisable feed platform covering data…
Aim Software Adds Subsidiary in Switzerland, Broder to Head
Following the opening of its Luxembourg office last month, reference data solution vendor Aim Software has added another European location to its geographic footprint: Switzerland. The vendor has experienced some success within the Swiss market already this year with the rollout of its Gain data management solution at Switzerland-based private bank Banca Euromobilare (Suisse) in…
Cadis Adds Local Language Capabilities to its EDM Solution
Sibos saw the opening of a new Asia Pacific office in Hong Kong for EDM vendor Cadis and it has now added more capabilities to service the users in this market via local language support for Chinese characters. The vendor hopes the new multilingual functionality will allow it to gain additional traction in markets that…
SmartCo Adds Ex-SunGard Exec Knapp to Sales Team in North America
Following the launch of its North American subsidiary in December last year, data management solution vendor SmartCo has added a new hire to its team in the region in an attempt to gain more traction. Accordingly, the vendor has poached ex-SunGard sales and relationship management executive Brent Knapp to lead its sales efforts in the…
Riskart Announces Release of New OTC Derivatives Publishing Mechanism
Following the announcement of the decision from the Committee of European Securities Regulators (CESR) to back European Commission plans to compel transaction reporting on OTC derivatives, Riskart today announced the release in beta test of its new XML-based publishing module. This will allow the publication in XML in compliance with FpML standards from its OTC…
Data Migration Problems Haven’t Changed in 10 Years, Say Datanomic and Iergo
The same problems that were occurring in the market 10 years ago around data migration are still with us today, according to compliance and data management solution vendor Datanomic and data migration focused vendor Iergo. The vendors discussed the importance of data quality tools in the migration process at an event in London yesterday. Businesses…
Netik Launches New Version of GSM Aimed at Solving ‘Control’ Issues for Managed Services
Following its purchase of the Capco Reference Data Services (CRDS) business in February 2008, data management and reporting solution vendor Netik has taken the last 18 months to bed down the Global Securities Master (GSM) solution into its overall managed services portfolio. This work has resulted in the release of version 2.0 of the Netik…
Aim Software Establishes Regional Office for Benelux in Luxembourg
Aim Software, a European provider of reference data management solutions to the financial industry, today announced that it has opened a subsidiary in Luxembourg to better serve the Benelux market and provide its existing and future customer base with an extended local service. The office opening in Luxembourg together with the strengthening of the activities…
Asset Control Wins ITG as Client, Launches New Compliance Focused Solution
EDM solution vendor Asset Control has bagged Investment Technology Group (ITG) as a new client and launched a new solution aimed at providing more transparency and control around reference data, with a view to improving firms’ compliance and audit functions. Rick Enfield, product business owner of the AC Plus solution, and Jean Williams, product business…