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A-Team Insight Blogs

GoldenSource Promotes Version 8 of its EDM Suite as More Tailored Solution For Managing Risk

GoldenSource has released version 8 of its EDM platform, which the vendor says offers a more tailored approach for clients and advanced functionality for managing business risk, particularly in high risk areas such as corporate actions, pricing and data quality. “The new version is based on user group feedback and is set to tackle specific industry pain points, taking into account the various technology developments that have occurred in the market,” says Sam Weibel, vice president of investment banking solutions at GoldenSource.

Version 8 is built around a standards-based J2EE application server framework, making it easier to configure, integrate and deliver than previous incarnations, he says. The EDM vendor believes the solution provides customers with scalability, security and high availability out-of-the-box. The updated platform features a new set of preconfigured connections to content providers, including Bloomberg Extended, Fidelity ActionsXchange’s ActionService ISO 15022, Interactive Data’s ISO 15022, S&P’s GICS Direct, Fitch Ratings’ Enhanced RDS and Reuters DataScope’s DS Select. There are also a number of data quality upgrades focused on: improving matching and exception management in the area of corporate actions notifications; pricing capabilities for validating vendor data and handling exceptions; and flexibility in the definition and management of data completeness. Accordingly, version 8 allows different consumers to specify their critical data attributes in a non-linear manner. With particular reference to corporate actions data, the new version allows data scrubbing to be a more automated process and the user notified of any data discrepancies automatically by the system, Weibel explains. Tom Stock, senior vice president of product management at GoldenSource, adds: “We’ve made the technology firepower even easier and more accessible for data professionals to use, really helping them to own the process, drive data quality and interact with the data flow at a business level.” As well as functional alterations, the new version includes technical advancements such as a workflow-oriented and SOA-enabled architecture. These technical adjustments allow rapid deployment of end-to-end data management solutions via a graphical configuration interface, Stock says. The vendor has also improved the system management interface, providing easier and faster implementation and management. A beta testing client is already using the new version, says Weibel, and another is in the process of implementing it. The beta client, who he says is a large global bank, has been in production for around a year. All configuration tasks are carried out in a standards-based Eclipse framework and GoldenSource believes this will dramatically increase the transparency and auditability of business processes, as well as reduce the time to market for implemented EDM solutions. “A user-friendly interface design, focus on flexible and standards-based workflow, as well as preconfigured connections to specialised vendor data products, make it possible to get data management out of the IT realm and firmly under the control of the business,” contends Stock. Weibel adds: “We have tailored the EDM platform and our sales and marketing teams to cater to the different market participant communities. These teams will continue to work together on common products across the buy and sell sides, but they are looking more closely at the user experience and altering solutions to meet the needs of verticals.” Weibel believes the buy side is significantly stepping up its investment in technology, particularly in the area of complex instrument capabilities. “As well as tier one interest, we are also seeing interest from tier two, three and four asset managers. The larger hedge funds have also been engaged in discussions with us,” he explains.

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