Syn~Reference enterprise-wide data management

Syn~Reference provides an enterprise common repository for party data, a comprehensive workflow-based framework for managing the data lifecycle on a ‘just in time’ basis, and a means to transform and transmit this common data to recipient systems either by a ‘push’ or ‘on request’ mechanism.

Every organisation in the securities industry has a multiplicity of processing systems all referencing common data and shares the challenge of ensuring that information is up-to-date and available to the systems that need it, on demand. While recognising that poor reference data is already a major cause of straight through processing (STP) failure, today banks and brokers must cope with increasingly complex interactions between central reference data and distributed transaction processing systems which further exacerbate the problem.

Syn~Reference’s unique paradigm for modelling everything to do with reference data simplifies and speeds up the creation of new product types, customers and markets, changing behaviours and managing complex lifecycles. This embraces scrubbing of inbound data, authorisation rules, golden copy generation and distribution.

Syn~Reference is first to also offer automation of straight through exception processing (STEP). As well as providing an enterprise common repository for party data, Syn~Reference provides a comprehensive workflow-based framework for managing the data lifecycle on a ‘just in time’ basis and a means to transform and transmit this common data to recipient systems either by a ‘push’ or ‘on request’ mechanism.

Business benefits
~ Material cost savings by consolidating customer creation and management process
~ Significantly better STP through increased data integrity
~ Coherent representation of all customer facing data
~ Improved risk management capabilities
~ Streamlining of overall party management workflow

One international banking customer using Syn~ Reference and has successfully moved from zero to 95 per cent STP for cash equities. Read the case study.