Wolters Kluwer Financial Services announced that it will integrate the data and information control software of London-based Celona with its FRSGlobal products, 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,” says 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.


[This article was posted on July 2, 2012, on the website of ABA Banking Journal, www.ababj.com.]         

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