Integration of Celona’s data and information control software enables improved data lifecycle management from source system to risk and regulatory analysis
Wolters Kluwer Financial Services, a leading worldwide provider of risk, compliance and audit solutions for the financial services industry, today announced that it will integrate Celona data and information control software with its FRSGlobal products. With this enhancement, Wolters Kluwer Financial Services has further strengthened the data integration capabilities of its FRSGlobal financial risk and regulatory reporting solutions, helping financial institutions to take control of the data lifecycle, including the collection, validation, integration, analysis, reporting and auditing of the data.
“There is an evident need for firms to have a greater grasp on the management of their data, driven primarily by regulatory change and requirements, risk management demands, and the need for increased efficiency throughout the business,” said Joost Roelin, director of Product Management for FRSGlobal at Wolters Kluwer Financial Services. “Our offering provides an improved audit trail which gives firms deep insight in the flow of the data, the transformation of the data, and the target of the data – providing a solid architecture for consistently managing data in line with integrated business, risk and regulatory needs.”
This new functionality allows FRSGlobal to bridge the data from financial firms’ source systems into DataFoundation, FRSGlobal’s centralized data mart. Users have the ability to drill down all the way to the source data, enabling transparency at every stage and creating an end-to-end audit trail. This process will ultimately help firms to incorporate more centralized, reliable and clean data into their risk management, management information and regional and global regulatory reporting activities.
“Our data and information control software gives firms real insight into their business - insight that both powers innovation and also enables rapid response to an ever-changing business environment,” said Sharon White, CEO, Celona. “Working with FRSGlobal solutions, we can help financial institutions save time, resources and provide better quality information to drive their business forward.”