PolarLake today announced it has signed a deal with one of the world’s leading asset management firms to use the PolarLake Reference Data Distribution (RDD) product as part of its strategic enterprise data management (EDM) programme. PolarLake will enable the firm, headquartered in the US with global operations, to distribute instrument, issuer, pricing, ratings, terms and conditions, standing settlement instructions (SSIs) and corporate actions data across all asset classes in batch and real time to over 30 downstream systems initially.
“The client recognised that an EDM project without a specialised end to end distribution system simply cannot deliver on the promise of Reference Data centralisation,” John Randles, CEO of PolarLake, comments. “The key for this client was PolarLake enabled the breakdown of the barriers between business and IT. Our capabilities to import and automatically execute data mappings, data usage and security data policies provided by the business in Excel format was something they just could not find with incumbent ETL/EAI approaches.”
He continues: “In our pilot, 95% of the requirements were executed directly from Excel. This ends years of frustration in communicating requirements from those that know the meaning of the data best of all but was lost in documenting, coding and line drawing in traditional integration technologies. These features, together with our out of the box industry interfaces and domain specific operations capabilities made the PolarLake proposition very compelling.”