Agreement pairs Belfast-based regulatory technology (RegTech) specialist with data quality counterparts to enable deep insights into fund data quality
Datactics, an award-winning provider of data quality and fuzzy matching software, is today announcing an agreement with investment management RegTech specialist Funds-Axis that will enable Funds-Axis to leverage Datactics Data Quality Management technologies.
Fund-Axis provides its clients with a unique combination of regulatory expertise and best-of-breed technology. For investment managers and depositaries having to comply with increasing demands for investment compliance, risk and regulatory reporting, Funds-Axis solutions enable them to quickly meet the regulatory requirements without the need for costly implementations and risky projects.
This involves working with large volumes of complex and often sensitive data. The Datactics toolsets will enable Funds-Axis to deliver enhanced automation and security over data flows and to achieve operating efficiencies. Datactics’ rapidly scalable data quality and visualisation toolset will enable Funds-Axis to provide enhanced transparency over enterprise data quality to its global client base.
As industry-leading experts in providing data quality metrics, Datactics has a proven and demonstrable ability to run large volumes of data against multiple data quality rules out-of-the-box, and utilises the Enterprise Data Management Council’s Data Management Capability Assessment Model (DCAM)™ standard to provide in-depth metrics on the core quality issues affecting data to an individual data point level. Datactics core capabilities support the secure and efficient extraction, transformation and load of large data sets.
Stuart Harvey, CEO of Datactics commented: “We are delighted that Funds-Axis has chosen Datactics. We look forward to providing an easy-to-use data quality platform which will provide transparency and assurance over the completeness and accuracy of large volumes of data.
The combination of Datactics’ out-of-the-box rules and powerful analytics will allow the development of a fully-functioning solution within a month. Funds-Axis and its clients will enjoy clear visualisation of the quality of their data and will be able to drill down within a few clicks of the mouse to see any data gaps, errors or anomalies that could otherwise impact upon the accuracy of investment compliance, risk monitoring or regulatory reporting.”
Darren Burrows, Managing Director of Funds-Axis said: “Funds-Axis has built up a reputation as an innovative market leader in the area of investment compliance, risk and regulatory reporting for the global investment management industry.
We now have data integrations with over 30 global fund administrators, prime-brokers and data suppliers and securely manage hundreds of data flows each day. As our client base and range of solutions grow, so do the challenges of managing large volumes of data. We need to ensure that cutting edge technology is available to our customers to ensure that they enjoy efficient data operations and high levels of assurance over the quality of their data.
Our customers, many of whom are longstanding, value our capabilities in helping them to meet their regulatory obligations quickly, accurately and efficiently, and it was a natural fit for us to engage Datactics to provide us and our clients with this enhanced data quality management and measurement toolset.”