GoldenSource has extended its relationship with managed service and IT infrastructure provider Options to ensure it can meet growing global demand for the managed service version of its enterprise data management (EDM) solution. The company already uses Options’ Momentum managed application and hosting solution to support GoldenSource OnDemand, but has reinforced its partnership to deliver the managed service on a wider geographic scale and in line with local regulatory requirements.
Neill Vanlint, global head of sales and services at GoldenSource, explains: “Our managed services business has grown steadily over the past two years, but as managed services become a global phenomenon and emerging markets want to use them straight away, we need global presence that is compliant with local regulations. To build that ourselves would be a massive task, so we looked for a partner with global capacity, local compliance and capability in cloud services for financial services.”
The company considered all the major cloud services, including options such as Amazon Web Services and Microsoft Azure, but found them too general and lacking in maturity to meet the needs of financial services firms. It selected Options’ private cloud solution on the basis of its global locations, local compliance and financial services client base.
The Options and GoldenSource partnership is up and running, with Options providing and managing hardware, operating systems and a database management system, and GoldenSource managing the application layer. The combined solution’s flexibility means firms can run hybrid operations with some data management in the cloud and some on premise, while the ability to flex processing capacity means firms can set up additional operational or development environments relatively quickly and easily.
An early adopter of the solution is an unnamed New York based investment and wealth management firm that is using the managed EDM service to support its client and counterparty onboarding. Vanlint says Tier 2 and smaller organisations are increasingly moving towards managed services and expects more than half of the company’s new business and some existing GoldenSource users to opt for managed services over the next year.
As well as extending its managed services, GoldenSource is working on the next release of its EDM product. The release will be available mid-year and is designed to improve the user experience and reduce reliance on IT by allowing users to configure their own process rules and use dashboards to measure data quality.