About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

Keeping it Simple and Using Common Message Standards is Vital, Says Integration Panel

Subscribe to our newsletter

In order to reach the goal of consistency across new best of breed software and legacy systems, firms need to make sure users understand and use common message standards, said Sally Hinds, global head of enterprise data management (EDM) at HSBC. Her fellow panellists agreed that a shared format for all business applications and normalisation of system output is desirable within the data management framework.

IT and systems are constantly evolving and data management teams must take this into account in their five or 10 year plans, added Christian Arsenault, assistant vice president of IT and data management at Natcan Investment Management. “Ten years in the IT world is a very long time and the needs of business users will also change over this period of time,” he explained. Hinds added that legacy systems are, by nature, persistent and have a tendency not to go away, even though you may want them to. “It is a constant process as current systems become legacy systems in a fairly short period of time,” agreed Arsenault. Although IT systems and architecture is usually due to be changed after around every five to seven years, it often stays in place for 15 to 20, he continued. “In order to account for this, you should build in some degree of flexibility to these systems to adapt to future requirements,” he concluded.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Navigating a Complex World: Best Data Practices in Sanctions Screening

As rising geopolitical uncertainty prompts an intensification in the complexity and volume of global economic and financial sanctions, banks and financial institutions are faced with a daunting set of new compliance challenges. The risk of inadvertently engaging with sanctioned securities has never been higher and the penalties for doing so are harsh. Traditional sanctions screening...

BLOG

A-Team Launches Inaugural AI in Data Management Summit New York City

Artificial intelligence-led applications offer financial institutions the potential to do more with their data at a time when increasingly complex economic and geopolitical influences place extraordinary operational pressures on them. The technology is now being applied to all parts of an organisation, from asset and risk management to customer relationship management and regulatory compliance. A...

EVENT

TradingTech Summit London

Now in its 15th year the TradingTech Summit London brings together the European trading technology capital markets industry and examines the latest changes and innovations in trading technology and explores how technology is being deployed to create an edge in sell side and buy side capital markets financial institutions.

GUIDE

Regulatory Data Handbook – Second Edition

Need to know all the essentials about the regulations impacting data management? A-Team’s Regulatory Data Handbook is a great way to see at-a-glance: All the regulations that are impacting data management today A description of each regulation The impact each will have from a data and data management perspective Messages from sponsors with products related to...