Financial services organizations face enormous challenges today in gathering and maintaining consistent and accurate reference data across their individual silos. For example, client-related data is often spread across credit departments, middle offices, settlement systems, etc., with various internal marketing groups separately keeping track of customer relationship data. As a result, making changes or additions to such reference data requires careful orchestration and significant effort.

Most industry practitioners acknowledge the high hidden costs of such reference data administration processes remaining ad hoc. However, while reliable reference data is the lifeblood of most key business processes, its management often remains sidelined, exposing institutions to spiralling costs and incremental business risks.

ReferenceDataCenter is a cost-effective, enterprise-wide, modular solution for managing a wide variety of reference data across the firm. Data types include, but are not limited to: internal legal entity and reporting structures; counterparty data; instrument, product and market data; and rating and industry classification schemes. Our solution makes it easy for all of your firm’s applications and organizational units to work from the same data source.

Key features supported across all data types:

• Support for multiple classification schemes
• Support for multiple ID schemes
• Historical state maintenance allowing recreation of a previous state
• Detailed audit trail of changes
• Integrated workflow support enabling formal, tracked management of changes
• A general foundation for alerts and exception handling

ReferenceDataCenter is one of Centerprise's cross-module solutions that includes relevant functionality from the following CenterSphere components:

• RelationshipCenter for counterparty reference data
• PortfolioCenter for instrument and market reference data
• CenterFlow for applying workflow technology to reference data processes
• OrganizationCenter for organizational management and HR reference data
• ConnectionCenter for tracking and managing data feeds