Enterprise-wide data integration is cited as the number one business issue in a recent report by research firm Financial Insights, "Top Ten Strategic Initiatives in Capital Markets for 2005: The Year of Integration". Data management is also one of the principal challenges of Basel II compliance. Reliable, clean, and centralized data is a foundation of operational efficiency, particularly in relation to regulatory compliance, risk management and customer management.
BancWare Data Integration is used by more than 100 financial institutions worldwide to streamline and simplify data management. Built to handle millions of records and the high volumes of processing associated with enterprise data integration, it provides a flexible interface between legacy systems, data warehouses, and ODBC compliant data sources.
"BancWare Data Integration is a critical component of our data management process, providing the ability to explore and define our data, " said Kathryn Haynor, vice president and project manager at PNC Financial Services Group. PNC uses BancWare Data Integration for data collection, transformation and management, as part of its balance sheet and interest rate risk management process. "BancWare Data Integration 4 helps us to map and maintain our subsystem data more efficiently, by providing the ability to interactively view and manage our data during mapping development, saving us time and effort."
Designed specifically for finance users, BancWare Data Integration provides finance-specific algorithms to help enhance data and create consistent and accurate information feeds. A new intuitive data mapping interface helps business users to easily map, validate and reconcile data. Version 4 of BancWare Data Integration also includes a number of features for greater operational efficiency via improved speed and performance, including increased throughput, added granularity and improved connection between front and back office systems for real-time processing.
Terence Faherty, president of SunGardâs BancWare business unit, said, "Increasingly, banks are recognizing the importance of identifying and addressing data quality issues. BancWare Data Integration provides tools that help business users to find and address those issues quickly and help ensure that the resulting analysis, regulatory compliance and subsequent business decisions are made with greater accuracy."