The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

Siperian Brings Client Data Management System to Europe

Subscribe to our newsletter

Providers of counterparty and client data management solutions in Europe face new competition from California based Siperian, which in partnership with Deutsche Boerse-owned counterparty data specialist Avox has secured a soon-to-be-announced deal with what it describes as a major European bank. On the back of this, Siperian is beefing up its presence in Europe, opening a London office and hiring additional London-based staff. It has also forged a partnership with Hewlett-Packard to help it achieve scale and to bolster its deployment and support infrastructure in the region.

Siperian’s first target market for its solution, the Siperian Hub, was the life sciences industry. According to Siperian founder and CTO Ken Hoang, it now counts as customers most of the world’s large pharmaceutical companies. Siperian began targeting financial services firms around a year ago, both on the institutional side for counterparty management and on the wealth management side for CRM.

“I started the company in 2000 because I realised that firms in all industries were struggling with the problem of customer data,” Hoang says. “Common data was being captured by numerous different applications, and needed to be brought together; I set out to solve the problem of consolidating it to get a unified view of data. The idea was to create an infrastructure, because an application was not the right fit. The problem needed to be universally solved, and we set out to solve it on a horizontal basis, and to enable different data models to be plugged in to make the solution more business-centric.”

Siperian Hub is designed to support an iterative roll-out, according to the vendor, to enable clients to phase implementation and get a quick return on investment before turning on the next capability. The base product within Siperian Hub is Siperian Master Reference Manager.

This is focused on dealing with customer data but can also manage other types of customercentric master data as well. The Siperian Hierarchy Manager component enables institutional and private banks to understand the relationships between different entities. “This is where our partnership with Avox comes in. Clients can bring in the Avox data and their own structures, in order to roll up their risk exposures, and understand their risk per client and geographic region,” Hoang says.

The Siperian Activity Manager component offers the ability to create a federated view of data, he continues. “We take a hybrid approach, meaning we don’t create a big hub where everything comes together. We persist and centralise reference data, but transaction data is brought together dynamically. Siperian Activity Manager goes out and dynamically queries the data and makes it available on an on-demand basis. It also has the ability to push the information back – it allows users to control the flow of data back into the source systems so they are always working from the best data.”

Avox is Siperian’s premier partner for counterparty data at this point, according to Hoang. “We do prefer Avox over any other solutions and believe we have the most opportunities together. The major success in Europe that we are about to announce is in conjunction with Avox. We do support CounterpartyLink and we also work with D&B. We have a lot of experience of working with data providers as they tend to be a good source of additional information to that which financial institutions have internally.”

Hoang observes that both regulation and the desire to grow revenues are driving client and counterparty data projects in Europe. “I’d say on the institutional side, regulations tend to be the lead driver, but right behind it is the fact that institutions want to get better control, have a much better view of how their money is being deployed and what risks they are taking, and be able to act faster, especially to deal with negative or positive corporate actions,” Hoang says.

Subscribe to our newsletter

Related content

WEBINAR

Upcoming Webinar: How to optimise the business value of your data using agile data governance

Date: 10 March 2022 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes Data governance is transforming from a risk management and compliance tool with limited and prescriptive controls, to a solution that can help you optimise the business value of your data. In this role, data governance must scale to manage...

BLOG

ICE Benchmark Administration Adds ICE Risk Free Rate Indexes for US Dollar, Euro and Japanese Yen

ICE Benchmark Administration has introduced ICE Risk Free Rate (RFR) Indexes in US Dollar (SOFR), Euro (€STR) and Japanese Yen (TONA). The indexes will be used to replace LIBOR rates and include ICE SONIA Indexes for GBP Sterling that the company released in April 2021. “Expanding the ICE Indexes to cover GBP, USD, EUR and...

EVENT

ESG Regulation, Reporting & Data Management Summit (Redirected)

This summit will explore challenges around assembling and evaluating ESG data for reporting and the impact of regulatory measures and industry collaboration on transparency and standardisation efforts. Expert speakers will address how the evolving market infrastructure is developing and the role of new technologies and alternative data in improving insight and filling data gaps.

GUIDE

The Trading Regulations Handbook

Need to know all the essentials about the regulations impacting trading infrastructure? Welcome to the first edition of our A-Team Trading Regulations Handbook which provides all the essentials about regulations impacting trading operations, data and technology. A-Team’s Trading Regulations Handbook is a great way to see at-a-glance: All the regulations that are impacting trading technology...