Know Your Customer, Know Your Exposure
The agile securities enterprise is one that has adopted an integrated and centralized approach to data management, enabling it to capitalize on opportunities and react to market events faster than the competition. Why? An integrated and centralized information strategy delivers visibility across the whole enterprise.
Executives of global firms need fast access to timely and accurate information on any aspect of their businesses and at any level -- no matter how much or how often it changes -- immediately. This applies across the entire organization. At the same time, the organization must maintain the flexibility to adapt to changes demanded by market conditions and regulators.
The ability to locate and interpret the required data quickly and cost-effectively to make the best business decisions, even as the business and market changes, will be one of the critical competencies of successful corporations in the 21st century. Visibility means the ability to extract data from disparate systems to gain multiple views at the enterprise (global, regional, local, product, customer and counterparty) level.
Such degree of access to the right information at the right time in the right format enables the financial services firm to leverage its data as a corporate asset. This is the platform for knowing your customers and understanding your counterparties and their roles in any transaction. It's easy when you know exactly where the risks lie and how they can be managed. <<<
Counterparty Data Challenge
>>> Data Management Knowing the total relationship you have with your customer and your counterparty is key -- but only if your data is trustworthy.
Tim Lind, Senior Vice President of Product Strategy, GoldenSource
Tim Lind is responsible for strategic product planning and management at GoldenSource, an enterprise data management software provider. With more than 18 years of experience in the international financial services industry market, his expertise includes enterprise data management and infrastructure, integration technology, business process outsourcing, market and reference data, and the financial messaging standards used by asset managers, broker-dealers and custodian banks. Lind is the acting secretariat of the EDM Council (www.edmcouncil.org) and GoldenSource's representative on the council.
- Page 2: What Data Is at the Heart of the Problem?
- Page 3: Golden Imperative
- Page 4: Resolution Lies in Centralization