Tag Archives: banking

Counterparty Data and Its Challenges

In the first of two videos, Peter Ku, Director of Financial Services Solutions Marketing, Informatica, talks about counterparty data and its challenges.

Specifically, he answers the following questions:

- What is counterparty data and why is it important?

- What are some of the challenges that the global banking industry is facing with their counterparty information?


Posted in Financial Services, Governance, Risk and Compliance, Vertical | Tagged , , , | Leave a comment

Know Thy Customer

There has been much discussion, particularly in the UK, about banks restricting the use of their investment and retail arms. The thinking process behind this is that investment banking is much riskier and so by drawing a clear line between the two, consumers will be better protected if another financial crisis should hit. (more…)

Posted in Customer Services, Customers, Financial Services | Tagged , , , , , , , | Leave a comment

Straight-Through Payments Processing: Use Data Translation And Exchange To Avoid Delays

By Nancy Atkinson, Senior Analyst, Aite Group

Karen Hsu of Informatica organized a TweetJam (#INFAtj) recently on business-to-business (B2B) payments, SEPA, and integration. In conversation with Chris Skinner of Balatro Ltd., I stayed (mostly) within the 140-character message limitations of Twitter while the hour flew by. (more…)

Posted in B2B, B2B Data Exchange, Data Transformation, Financial Services | Tagged , , , , , , , , | Leave a comment

Powering Financial Services Beyond ETL And Data Warehousing At Informatica World 2010

I just returned from Informatica World 2010 and wanted to share the numerous stories and experiences from some of our banking and capital markets customers using Informatica beyond Extract/Transform/Load (E.T.L) and beyond data warehousing. More importantly, how Informatica is helping these companies combat fraud, manage risk and compliance, accelerate M&A integrations, attract and retain customers, and improve operational efficiencies.  Take a look at what I learned! (more…)

Posted in Business/IT Collaboration, Customer Services, Customers, Data Governance, Data Integration, Data masking, Data Quality, Data Synchronization, Financial Services, Governance, Risk and Compliance, Mergers and Acquisitions, Operational Efficiency, Pervasive Data Quality, Profiling, Real-Time, Uncategorized | Tagged , , , , , , , | 9 Comments

MDM – What’s The Cost Of Bad Data In Financial Services?

One of the most critical first steps for financial services firms looking to implement multidomain master data management (MDM) is to quantify the cost savings they could achieve.

Unfortunately, a thorough analysis of potential ROI is also one of the steps least followed (a key culprit being disconnects between business and IT).

This shortcoming is spotlighted in a new Informatica white paper, “Five Steps to Managing Reference Data More Effectively in Investment Banking,” which outlines key questions to ask in sizing up the cost implications of bad data and antiquated systems, such as:

  • How long does it take to introduce a new security to trade?
  • How many settlements need to be fixed manually?
  • How many redundant data feeds does your firm have to manage?
  • How accurate and complete are your end-of-day reports?
  • Do you have the data you need to minimize risk and exposure? (more…)
Posted in Enterprise Data Management, Financial Services, Governance, Risk and Compliance, Master Data Management, Operational Efficiency | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Why Should Banks Develop A Strategy To Automate Bank Account Management Now?

Electronic Bank Account Management (eBAM) is a classic example of a win-win proposition.  As the most manual, paper intensive interaction between corporate and institutional clients and banks today, the account maintenance process is inefficient, error prone and inherently slow.

Banks that invest in eBAM solutions will be able to reduce their operational costs, improve quality and responsiveness and meet an emerging demand from clients for innovative solutions that contribute to their bottom lines while also enhancing control.  eBAM should be considered a fundamental component of an overall strategy to improve the client onboarding process, a response that TowerGroup sees as a critical differentiator going forward for the wholesale banking market.

Banks that take early action to roll out eBAM capabilities will be best positioned to respond to the projected rapid deployment of eBAM solutions on the part of their most valued corporate clients. eBAM is a game changer. Don’t be left out of the game.

Posted in B2B, Data Integration, Financial Services | Tagged , , , , | 6 Comments

The Cost Of Bad Data In Combating Global Money Laundering And Terrorist Financing

I recently attended the 15th Annual Money Laundering conference to learn about  recent trends, regulations, and challenges in combating financial fraud, money laundering, and complying with domestic and international laws including OFAC, BSA, AML, EU Directive on Money Laundering. At the end of the day, these are all inter-related to help locate and track the movement of funds for  illegal purposes including terrorist financing, drug, and human trafficking. I was in a room packed with folks whose titles included Head of BSA/AML, VP of Compliance and Financial Fraud, Financial Securities Analysts, and wondered what kept them up at night. (more…)

Posted in Data Integration, Data Quality, Financial Services, Governance, Risk and Compliance | Tagged , , , , , , | 1 Comment

Solving FAS 166 And 167 Compliance With Data Integration And Data Quality

Back in June 2009, the Financial Accounting Standards Board (FASB) published Financial Accounting Statements No. 166, Accounting for Transfers of Financial Assets, and No. 167, Amendments to FASB Interpretation No. 46(R), which changes the way entities account for securitizations and special-purpose entities. The new standards will impact financial institution balance sheets beginning in 2010 and will require substantive changes to how banks account for many items, including securitized assets that had been previously excluded from these organizations’ balance sheets. Banks affected by the new accounting standards will be subject to higher risk-based regulatory capital requirements. So what does it all mean and how much will it cost banks to comply?  (more…)

Posted in Data Integration, Data Quality, Financial Services, Governance, Risk and Compliance, Vertical | Tagged , , , , , , , | 1 Comment