Summarizing the lessons she learned from her tenure in a speech earlier this month, Mary Jo White, outgoing chair of the U.S. Securities and Exchange Commission (SEC), made a convincing case that the use of data analytics has greatly contributed to a dramatic rise in successful SEC investigations of insider trading and other securities fraud.
Regardless of the ROI of any data-centered solution, upper level management will not support it unless it adheres to governance and security conventions. By definition, data governance formalizes the roles, responsibilities, and rules required for data’s long-term sustainability. Its symbiotic relationship with security ensures that data is protected from the people and practices that negatively affect organizations.
State Street Bank, The EDM Council, Dun & Bradstreet, Wells Fargo and Cambridge Semantics completed an engagement to harmonize State Street's Interest Rate Swap data with Dun & Bradstreet's entity hierarchy data using the Financial Industry Business Ontology (FIBO) and Cambridge Semantics' Anzo Smart Data Lake®.
Legacy applications that have exceeded their useful life can be expensive to maintain. They often require specialized skills and old versions of software and hardware to support. But, they can also contain very valuable data that needs to be retained for business or compliance purposes.
Ernst and Young just released their 2015 Federal Reserve regulatory reporting survey looking at how firms are adapting to the new standards. The survey covered 5 key topics but two stood out as areas where new smart data solutions could add immediate value for the banks: Report Preparation and Data &Technology.
In a recent buyer case study, IDC examines the use of the Anzo Smart Data Platform by PricewaterhouseCoopers (PWC) in a sophisticated new class of financial Risk and Compliance solutions.