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Ness Technologies Releases Details of New Version of Data Management Platform

Ness Technologies released the plans for the launch of a new version of its enterprise reference data management platform, Ness Financial Data Enterprise, at this year’s FIMA Asia conference in Singapore in September. The new version of the platform features interfaces to Telekurs Financial’s Valordata Feed (VDF), IBM Tivoli scheduler and a common enterprise application integration (EAI) frameworks.

Larry Scott, president of Ness IBS and head of global industries, including Ness’ Financial Services vertical, explains the rationale behind the update: “We are constantly evaluating the market to determine if added features are required. We then balance those needs with customer feedback and their high priority challenges and needs. We then put those identified needs on a development roadmap for the Ness Financial Data Enterprise product. To ensure we keep up to date, we target one major fall release a year, which both responds to and is ahead of customer needs, while ensuring the basic product performs for our customers.”

The new version includes enhancements to support new data sources, explains Scott. “As information evolves as an asset for institutions, we need to be responsive,” he adds. “We are working to build the most comprehensive reference data management platform in the market. These key functions broaden the data sets available to our customers, while improving the ‘deployability’ and manageability of Ness Financial Data Enterprise.”

Accordingly, the Ness Financial Data Enterprise 5.0 platform includes an interface to Telekurs Financial’s VDF financial information database in order to enable customers to increase their data coverage. Scott comments: “Certainly the Telekurs data feed is a highly valued, and popular data feed so making this easily available is important to our customers.”

Ness consulted its clients in the implementation phases of the upgrade, according to Scott. “Several of the changes were made for a European bank implementation that is now underway,” he adds.

The vendor claims that data distribution interfaces to common EAI frameworks allow customers to leverage existing IT initiatives and improving connectivity across the organisation. The new version also includes a pre-built interface to IBM Tivoli scheduler, along with TAM/ID2 for user authentication, which the vendor claims improves the ability to manage users and streamline data processing.

Scott explains that the development cycle was “pretty typical” for an application such as this, and it has been less than the year since the vendor’s last major release.

With regards to the solution’s competitive positioning in the market, Scott says: “All of us compete on features and functions. We believe our value lies in the flexibility our platform provides to rationalise disparate data sources and then synchronise a golden copy of the data.”

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