A-Team Insight Blogs

IHS Markit Dedicates 2019 to Customer Experience, Data Science and Technology Development

Share article

IHS Markit is playing into the need for change in data management with a focus on customer experience, strength in data science, cloud hosted services, alternative data and a three-year roadmap that will enhance the technology underpinning its enterprise data management solution, IHS Markit EDM. It is also taking advantage of opportunities in the buy-side, although it says sell-side firms are still coming to market, and is consistently onboarding 20-plus customers a year.

Having built out the EDM solution over the past few years in response to client demands for greater scale to process more data, faster and sometimes in real-time, and for more agility around how data is accessed and used, IHS Markit’s 2019 focus is on customer experience. Spiros Giannaros, head of the EDM business at IHS Markit, comments: “We are empowering users to configure their own data and drive data management using their own rules. We are evolving toolsets to make this faster and easier.”

The company is also looking at ‘additional smarts’ that could be added to the solution, including improved data lineage, distribution and quality, and recently started to develop multilingual support for the EDM platform. Twelve global locations provide local language services and support.

Alternative data is also on the agenda, much of it sourced from IHS, a provider of information and analysis designed to support decision making across a broad range of sectors. The company’s commitment to cloud technology includes 30 hosted services and an interest in services that support multiple tenants.

Responding to market moves towards data driven transformation, Giannaros says: “We spend a lot of time with customers to see what role we can play. We have strength in data science, but the need is different from customer to customer.” The company is developing its existing data science capabilities with cloud-based data lakes and extensions to its data dictionary that will provide data scientists with access to third-party applications.

Looking at service delivery, Giannaros notes the popularity of IHS Markit managed services, although the company still has some enterprise solution customers, and says it is experiencing particular interest in managed services from the buy-side. He comments: “Buy-side firms want to solve for data, order management and portfolio management in a single managed service. We are having a lot of success here.” While the buy-side is offering the most opportunities at the moment, Giannaros says sell-side firms are coming to market with use cases around compliance with Fundamental Review of the Trading Book (FRTB) regulation – IHS Markit has a solution here, derisking and increasing control.

While the 2016 merger of IHS and Markit raised initial concerns about the future of Markit as a small player in the much larger IHS environment, it seems to have paid off. Giannaros points to cross-selling opportunities in the oil and gas sector, which is less mature than financial services in terms of data management; access to alternative datasets for financial institutions; and the ability to integrate innovative technologies that have been tried and tested by the parent company.

Leave a comment

Your email address will not be published. Required fields are marked *

*

Related content

WEBINAR

Recorded Webinar: Data lineage – how to ensure you can deliver the right information, to the right people, at the right time

Data lineage is critical to digital transformation, business decisions and regulatory compliance. It is also difficult to implement at scale, not only because large quantities of data across numerous systems must be inventoried and tracked, but also because the data is not static and needs context to make sense to the business. If you are...

BLOG

Data Management – Why is it all so Difficult and Costly?

The financial industry spends $28.5 billion on externally sourced market data and a further $2-3 billion cleaning it up so that is can be used internally. Why is this so difficult and costly, and what can the industry and market participants do about it? Peter Moss, CEO of the SmartStream Reference Data Utility (RDU), will...

EVENT

Data Management Summit London

Now in its 9th year, the Data Management Summit (DMS) in London explores how financial institutions are shifting from defensive to offensive data management strategies, to improve operational efficiency and revenue enhancing opportunities. We’ll be putting the business lens on data and deep diving into the data management capabilities needed to deliver on business outcomes.

GUIDE

Entity Data Management Handbook – Fifth Edition

Welcome to the fifth edition of A-Team Group’s Entity Data Management Handbook, sponsored for the fourth year running by entity data specialist Bureau van Dijk, a Moody’s Analytics Company. The past year has seen a crackdown on corporate responsibility for financial crime – with financial firms facing draconian fines for non-compliance and the very real...