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For years, reference data has been a necessary, inconspicuous player, basically ignored as a cost of doing business and purchased as needed to support operational silos. As trading volumes increased and customers demanded greater efficiency and accuracy (with fewer failed trades), and as regulators required greater transparency and accountability, the role of reference datawhich includes important classes of data such as legal entity and counterparty datahas taken on a greater significance to the organization.
Assess
Automate
Assure
Assessment and analysis of your enterprise architecture and reference data flow. Develop a point-in-time understanding of volume, source flow, and distribution of data.
Index, clean, and normalize all data elements from various asset classes through automation and expert inputs.
Assure standardized reference data is available from a central repository for downstream use through manual data cleansing, new securities setup and corporate actions processing.
In its simplest form, the architecture that supports and defines Patnis reference data management solution covers three fundamental components of the data life cycle: Assess, Automate and Assure. These components represent a unique, holistic approach to reference data management that meets the rigors of contemporary data governance, cost reductions, and regulatory compliance.
Banking and Financial Services
Core Managed RDMS Offering Automated data cleansing systems Corporate actions processing
The RDMS has nine solution components which are designed to address client specific requirements during the reference data management lifecycle. iGATE Patnis solution can be implemented either as a complete end-to-end solution or implemented individually. iGATE Patni consults with its clients to determine which approach will be the most effective. The nine modules are tied to operational best practices and are further supported by best-of-breed industry software tools.
Business Value
The benefits achieved from the RDMS solution: Savings
50% savings in Reference Data Management expense (Reduced Total Cost of Ownership) Elimination of large upfront license and maintenance capital expense Reduction in reference data feed costs by removing duplication
Accuracy
Nearly 100% accurate and up-to-date reference data Efficient and timely data distribution to all consuming systems
Flexibility
RDMS can be delivered as technology infrastructure in-house, managed or as a service Easier scalability through offshore resourcing Rapid speed of implementation and transition
Next Steps
Call our Banking and Financial industry experts on (001) 978-317-3641 in US or (044) 7827 927 810 in UK to schedule a no-obligation consultation on reference data management. For more information on our Reference Data Management services, visit our web site at http://www.igatepatni.com/bfs/solutions/reference-data-management-solution.aspx
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