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

A-Team Insight Blogs

Temenos Rebrands ProDB as DataSource, Launches Packaged Data Management Solutions

Temenos has rebranded its ProDB enterprise data management solution as Temenos DataSource and set out a strategy to deliver pre-packaged data management solutions aimed at easing banks’ pain points. The solutions will combine the Temenos metadata model and rules engine with a financial instruments data model (FIDM) developed by Geneva-based Ecofin. The first packaged solution will support data management for regulatory compliance, with later additions expected to cover cashflow and corporate actions.

Ecofin will be added to release 13 of DataSource later this year and will be offered as an option with a separate licence fee. Ralf Zeitler, DataSource product manager at Temenos, says: “Banks face the challenges of regulation and cost pressure. Our strategic approach will deliver efficient applications. While it is possible to meet regulatory requirements using ProDB, the approach using DataSource and the Ecofin data model adds value and makes it easier.”

Essentially, the combination of DataSource and Ecofin’s FIDM, a model already widely used in the banking industry, automates the management of market and reference data, importing data from market data vendors and storing it in its original format before consolidating it to create golden copies of instruments and delivering required data in near real time to target applications. Importing, consolidating and exporting data is a single process, while scale to meet growing volumes of data is supported by the Java Enterprise Edition architecture underpinning DataSource.

Zeitler says the software can be used to implement complex workflows on the fly. By way of example, he suggests the automated process of creating a new instrument, including the collection of instrument data and distribution of instrument data to relevant applications.

Mark Winterburn, Temenos product director, concludes: “In a world where the volume of data generated is growing exponentially and regulations are becoming increasingly complex and are changing frequently, DataSource will reduce costs and risk, while improving the quality and consistency of a financial institution’s data.”

Related content

WEBINAR

Upcoming Webinar: Leveraging data lineage to deliver tangible business benefits

Date: 30 March 2021 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes Data lineage is central to data quality, accuracy and access. It is also essential to understanding your data and data flows, systems from simple applications to multiple business intelligence solutions, and how people in your organisation are using data....

BLOG

A-Team Group Introduces 2021 Innovation Awards

Here at A-Team Group we have been working hard on plans to celebrate innovative projects and teams with the launch of our A-Team Innovation Awards. The awards are designed to reward teams that have found innovative ways to make use of new and emerging technologies to solve challenges at financial institutions in capital markets. The...

EVENT

RegTech Summit Virtual

The RegTech Summit Virtual is a global online event that will be held in June 2021 with an exceptional guest speaker line up of RegTech practitioners, regulators, start-ups and solution providers to collaborate and discuss innovative and effective approaches for building a better regulatory environment.

GUIDE

Data Lineage Handbook

Data lineage has become a critical concern for data managers in capital markets as it is key to both regulatory compliance and business opportunity. The regulatory requirement for data lineage kicked in with BCBS 239 in 2016 and has since been extended to many other regulations that oblige firms to provide transparency and a data...