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Opinion: Closing the Control Loop
By David Sherriff, chief operating officer of Microgen Despite some dramatic events in 2010, the global banking system was able to hold steady. Since the economic crisis took hold, the majority of banks have invested heavily in back office systems in order to tighten their financial control, yet the spotlight remains firmly on the City….
EDM Council to Launch New Operating Model, Cites ISO, Swift and GS1 as the Top Three Contenders for Entity Identification
The EDM Council has decided to restructure its operations under four main areas of business in order to better engage with the industry it is charged with representing: standards; best practices; engagement (with a focus on regulators and academia); and internal operations. A large proportion of the standards work will likely focus on the area…
XSP Moves to the Trump Building at 40 Wall Street
XSP announced that the company has moved its New York office to the Trump Building at 40 Wall Street. The relocation is part of a 10 year lease and designed to accommodate XSP’s growing requirements. Brendan Farrell, CEO at XSP, said: “This is an exciting time for XSP as we head into 2011 – our…
What to Expect in 2011
What a year it has been for reference data management. Data quality has been such a high profile topic that it was discussed during one of the US House-Senate conference committees and, across the pond, was also championed by the European Central Bank’s (ECB) president Jean-Claude Trichet during a number of speeches over the course…
EU Capital Requirements Directive Update Specifies Minimum Data Standards for Risk Modelling
The European Parliament has finally published amendments to the Capital Requirements Directive in the Official Journal of the European Union, including an update to the internal risk modelling requirements that specifies that “minimum data standards” must be met. Highlighting the global regulatory focus on improving data quality, the update indicates that supporting data for internal…
Eagle’s Lehner Talks up SaaS, Integration, Global Expansion and Regulation for 2011
Following its decision to move Asian and EMEA managing director John Legrand from his London base out to Singapore earlier this year, Eagle Investment Systems has been actively bolstering its on the ground presence in the two regions and this hiring drive will continue into 2011, according to CEO and president John Lehner. The EDM…
Trading Places
The poaching of industry execs by the regulators has been a frequent occurrence over the course of this year and, if recent comments made by the Commodity Futures Trading Commission’s (CFTC) Scott O’Malia are anything to go by, a data management exec is soon to be poached to become the chief data officer (CDO) of…
UK FSA Fines Scottish Equitable £2.8m for Customer Data Management Failures
The UK Financial Services Authority (FSA) has fined Scottish Equitable Plc £2.8 million for failures related to the management of its customer data that the regulator says caused “significant consumer detriment”. In the vein of other fines meted out by the FSA over the course of this year, the action against Scottish Equitable, which will…
Patni Computer Systems Unveils Reference Data Management Solution for Financial Services Firms
Patni Computer Systems, a global IT and BPO services provider, today introduced PatniRADAR, a multi-step Reference and Data Rationalisation (RADAR) program that will help financial services companies mitigate their risk and rationalise the cost of managing their reference data. PatniRADAR is a fixed-price, fixed-deliverable solution, with a short-duration engagement, aimed at achieving significant and quick…
Great Eastern Life Selects Eagle’s Enterprise Data Management Platform
Eagle Investment Systems, a provider of financial services technology and a subsidiary of BNY Mellon, today announced that Great Eastern Life, Singapore’s leading life insurance group, has selected Eagle’s enterprise data management solution to consolidate and aggregate its investment data to help streamline its operations and respond to regulatory requirements. Data management remains a priority…