Datactics has made its first break into the funds management market through a partnership with RegTech specialist Funds-Axis, which will use the company’s data quality metrics to improve automation and operating efficiency. The solution will also provide Funds-Axis clients with greater transparency of enterprise data quality.
Funds-Axis, a provider of regulatory technology to the investment management industry, approached Datactics with a view to improving data quality and automating manual data management processes at a time when increasing regulatory requirements are pushing up data volumes. The company has data integrations with more than 30 global fund administrators, prime brokers and data suppliers, and is half-way through the implementation of Datactics’ RegMetrics cloud-based solution, which includes out-of-the box data quality rules, data visualisation and support for data quality metrics across large data volumes.
Funds-Axis managing director, Darren Burrows, says the partnership with Datactics is a natural fit and gives the company a data quality management and measurement toolset for both internal and external client use. The implementation is also expected to help the company scale its business.
Stuart Harvey, CEO at Datactics, notes that most RegMetrics users are banks, but says the company’s entry into the funds management market will be pursued. The company is also working on proof of concepts with RegMetrics that could extend its reach into the retail banking sector.