By 2010, more than 10 per cent of total spending within the enterprise data management industry will be on legal entity data management, says analyst Aite Group in a new impact report. Regulatory pressure is driving a 200 per cent average annual growth rate in spending in this market, Aite says, encouraging spend on legal entity data services to rise from some $16 million in 2006 to $253 million in 2010. The report profiles four vendors of products to facilitate customer and counterparty data cleansing and management, including Avox, CounterpartyLink, Credit Dimensions and D&B. The vendors were asked 64 questions regarding corporate information, product overviews, data information, origination, distribution, regulatory examination and services. This is the analyst’s second look in 2006 at counterparty data; earlier in the year it predicted 2007 would be the year counterparty data projects climbed up the priority list to be as compelling as instrument data projects (see Reference Data Review, August 2006).
A-Team Insight Blogs
Spending on Legal Entity Data Management to Top $250m by 2010
Upcoming Webinar: Adverse media screening – how to cut exposure to criminal activity, from money laundering to human trafficking
Date: 23 September 2021 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes Screening for adverse media coverage of counterparties is a significant challenge for financial institutions. It is required by regulations such as the EU’s sixth Anti-Money Laundering Directive (AML 6), and is one of the most effective ways to steer...
By Shameek Kundu, head of Financial Services at TruEra. The use of Artificial Intelligence (AI) is growing in capital markets. But the sector has work to do to capitalise on investment made, and this starts with making AI and machine learning (ML) models robust, transparent and fully accountable. Ensuring AI quality will be critical to...
RegTech Summit APAC will explore the current regulatory environment in Asia Pacific, the impact of COVID on the RegTech industry and the extent to which the pandemic has acted a catalyst for RegTech adoption in financial markets.
Sourcing entity data and ensuring efficient and effective entity data management is a challenge for many financial institutions as volumes of data rise, more regulations require entity data in reporting, and the fight again financial crime is escalated by bad actors using increasingly sophisticated techniques to attack processes and systems. That said, based on best...