The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

Consorzio Operativo MPS Plans Implementation of GoldenSource Customers and Counterparties Solution

Consorzio Operativo MPS, the technology arm of Banca Monte Dei Paschi di Siena, the world’s oldest bank and flagship of the MPS Group, has selected the GoldenSource Customers and Counterparties data management solution to create, maintain and publish a standardised reference data repository for the group’s counterparty data.

The technology operation is already rolling out the GoldenSource Securities and Products solution, but considered entity data management options from both local and global enterprise data management solution providers before selecting GoldenSource Customers and Counterparties. The software will centralise counterparty data and provide a single view of entity data, including an accurate representation of complex corporate hierarchies. It will also link to Securities and Products data in an integrated data architecture based on GoldenSource’s core data model.

Consorzio Operativo MPS was previously running a number of trading and risk systems, each with their own counterparty data, and secured funding to centralise the data on the basis of reducing counterparty risk, improving operational efficiency, improving time to market and assuring compliance with existing and emerging regulations.

Enrico Farina, manager of Consorzio Operativo MPS, explains: “We selected GoldenSource because it offered us a complete and innovative integrated solution to process all the financial data used by the business. This project is fundamental to MPS Group’s long-term strategy of growing the business. GoldenSource will enable us to significantly reduce onboarding times by providing a quick and efficient process. Moving to an automated, workflow-based approach will also significantly reduce our level of operational risk and improve data quality.”

Going forward, the counterparty and securities data solutions will be implemented in parallel by a joint team of staff from GoldenSource professional services and Consorzio Operativo MPS. The project status is currently moving from high level to detailed planning with deliverables expected through next year.

Related content

WEBINAR

Recorded Webinar: An update on data standards and global identifiers

The importance of data standards and global identifiers continues to be emphasised by both capital markets participants and their regulators. But how much progress is actually being made in developing and implementing standards that will improve data quality for better business decisions, provide regulators with a clearer view of systemic risk, and ensure more stable...

BLOG

DMS US Virtual Goes Live with a Practitioner Innovation Keynote and Real-Time Q&As

A-Team Group’s Data Management Summit USA Virtual kicked off today with a hugely insightful live practitioner innovation keynote followed by two live, and lively, Q&A sessions packed with audience questions and answered by the day’s expert keynote and panel speakers. Andrew Delaney, president and chief content officer at A-Team, hosted today’s live sessions of the...

EVENT

RegTech Summit New York City

Now in its 5th year, the RegTech Summit in NYC explores how the North American financial services industry can leverage technology to drive innovation, cut costs and support regulatory change.

GUIDE

What the Global Legal Entity Identifier (LEI) Will Mean for Your Firm

It’s hard to believe that as early as the 2009 Group of 20 summit in Pittsburgh the industry had recognised the need for greater transparency as part of a wider package of reforms aimed at mitigating the systemic risk posed by the OTC derivatives market. That realisation ultimately led to the Dodd Frank Act, and...