It has been a while since the last new member joined data industry group the EDM Council, although its faithful following remain committed to the data management cause. This week investment technology, operations and data management solution consultancy InvestTech Systems Consulting has joined the fold.
For those readers that may have been out of the loop over the last five years, the EDM Council is the not for profit business forum concerned with championing the goals of enterprise data management and promoting standardisation in the data world. Although it began life as a vendor driven forum, industry practitioners have since joined and it currently has 39 member institutions in total, including banks such as Barclays and Credit Suisse.
InvestTech has joined the industry group with a view to sharing its hands-on implementation experience in rolling out data management solutions within financial institutions, says Jeremy Hurwitz, co-founder and principal of the consulting firm. “We have worked with investment management firms over the past 10 years to develop and implement practical solutions that achieve enterprise-wide control over data content. Financial firms have evolved beyond reference data and have embraced enterprise-wide data solutions,” he contends.
Hurwitz is hoping that the EDM Council will also provide his own firm with insights into current “challenges and opportunities” in the market. The rationale behind this is likely getting closer to its current and prospective customers that are already members of the group and finding out what they are looking for from vendors and service providers.
The industry body has been particularly vocal about its support of the proposals surrounding the European Central Bank’s (ECB) reference data utility and the establishment of the US National Institute of Finance (NIF) over recent months. It will be interesting to see InvestTech’s take on these proposals, after all, a forum is nothing without debate.