GoldenSource Corporation, a leading enterprise data management (EDM) solutions provider, announced a record number of new customer and current customer expansions completed for the year, with 10 successfully launched in the fourth quarter alone. GoldenSource client go-lives spanned new geographies and penetrated into adjacent industries across producers and consumers of securities data.
"Living in a post securities master world, financial institutions can no longer sustain the status quo," says Mike Meriton, CEO of GoldenSource. "Executives are struggling to agree on a consistent language and to unlock thefull value of their data. A clear 360 view of data across the enterprise continues to be a challenge; however, the number of major expansions and new projects completed by our customer's shows that the industry recognizes the need to fix the problems created by silo ed data. HSBC, M&G Investments are living examples of firms taking proactive steps to improve operational efficiency, better manage risk, and prepare for regulatory demands."
In 2011, GoldenSource continued to strengthen its EDM solution and expansion into new markets including China, Australia, Singapore and Italy. Investment managers, universal banks, securities services firms, exchanges and public government institutions were significant growth areas for the company. Existing GoldenSource customers from large banks to mid-size asset managers gained quick return on investment by expanding their use of GoldenSource into new lines of business, new regions, and new types of content.
Adam Honore, research director at Aite Group said, "Having a complete enterprise wide view of your data for data governance, operational efficiency and risk management reasons is clearly a key driver for 2012. Financial institutions are under increasing pressure to comply with current regulations such as Dodd Frank and Solvency II and so require a robust and easy to implement enterprise data management solution to comply with current regulation but also comply with future regulation coming down the road."
Mike continues, "In 2011, we also saw an uptick in the demand for enterprise wide shared services from clients. Their concern was to ensure multiple lines of business were working from a highly scalable and centralized golden copyplatform. In 2012, we expect momentum to continue as we invest in our 360 EDM(TM) solution and continue to demonstrate the importance of gaining an enterprise view of data in this increasingly regulated market."