Demand for data management driven by risk and regulation
Cadis, the global EDM specialist, has secured 19 new global clients in 2011. These firms benefit from cleansed, validated and centralised data to feed into their risk, trading and compliance platforms.
New notable clients include Prudential, ING, Loomis Sayles, Robeco, SCOR Global Investments and Indexium.
“2012 will be the year of data overload for financial institutions,” said Virginie O’Shea, analyst, Aite Group. “Magnified by the burden of global regulatory reform, enterprises’ governance, risk and compliance departments are threatened by a sea of historical and real-time market data. Proper data management will be an asset to financial institutions to drive intelligent decision making and take action.”
“Demand for data management has never been greater especially among sell-side firms as they look to cope with pending regulations,” said Daniel Simpson, CEO, Cadis. “Dodd-Frank, Basel III and MiFID II are just part of the alphabet soup of regulations that are quickly coming down the pipeline. Firms need to take a proactive approach by using their data as an asset – if it’s not managed properly it just becomes a liability.”
Cadis’ Centre of Excellence training programme continues to grow, having certified 300 people this year. Cadis also continues to refine its best practice approach to data management through its client Wiki, which is accessed by over 2,500 financial services professionals worldwide.
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