PolarLake launches world’s first Securitites Industry Reference Data Distribution solution
Published March 13, 2007 / Press Releases
PolarLake has today launched the world’s first Reference Data Distribution solution, with the release of PolarLake® RDD, to help organizations overcome the complexities and expense associated with implementing a centralized Enterprise Data Management (EDM). PolarLake® RDD is designed to meet the specific requirements of the distribution of Reference Data in sell side, buy side, custodians and fund administration firms.
The key benefits to financial institutions of adopting PolarLake RDD to centralize their Reference Data are:
- Faster Time to delivery – 75% faster than traditional methods
- Purpose built to tackle the complexity of reference data distribution
- Support for 3rd party and industry interfaces (GoldenSource, LatentZero, Charles River, Swift, FpML)
- 80% less resource requirement reduces risk. Allows team to concentrate on the business problem, not the technology
- Lower maintenance and support cost – business user controlled
PolarLake RDD has already been deployed at a global Asset Manager enabling the distribution of golden copy Reference Data to multiple downstream systems in 75% less time, utilizing 80% less resources than traditional data integration solutions, which require lots of custom coding, complex line drawing and increased business risk.
PolarLake® RDD Delivers Reference Data Distribution Projects 75% Faster Than Traditional Methods
Commenting on the customer implementation, PolarLake CEO John Randles said, “According to Tower Group, one third of a typical Reference Data management project is spent on data distribution. Our experience with PolarLake RDD was that less than 5% of the overall project time was spent on data distribution. This has helped our client to deliver at lower cost and risk, with faster time to market”
Matthew Nelson, Senior Analyst with TowerGroup said, “TowerGroup collected survey data in late 2005 which noted participants’ opinion that roughly one-third of the effort of a data management project was associated with the distribution of that data, however we believe that number may be too low. Failure to understand and prepare for the data needs of downstream applications will doom a data management project from the start.”
Larry Tabb of the Tabb Group said, “While studies continually point towards increased EDM adoption, reality does not seem to reflect demand. A major reason behind this, we believe, is the complexity and cost of integrating firms' downstream technologies. More efficient and effective data distribution tools would place EDM within reach for a wider array of firms helping them finally benefit from consistent and clean enterprise data at a cost-effective price.”
“Time-to-market is a critical element in sustaining the support of senior management and business users for any IT project,” comments Tim Lind, SVP at GoldenSource Corporation. “While we are experts in managing data quality, we look for skilled partners to manage the transformation and distribution of content into the unique set of business applications found within our customers. There is no question that this “last mile” of integration is a key component in the time necessary to deploy an EDM solution.”
According to Mike Gilpin, VP Research Director at Forrester Research, “the PolarLake product is an especially good fit for financial services companies with complex service data distribution needs. PolarLake's Data Distribution Suite has been used as a reference data hub feeding data from multiple incompatible sources to dozens of downstream systems, each one needing a different data format."
The Benefits of PolarLake RDD
Reduced Project Delivery Risk
- Faster Time to delivery – 75% faster than traditional methods
- Purpose built to tackle the complexity of reference data distribution
- Support for 3rd party and industry interfaces (GoldenSource, LatentZero, Charles River, Swift, FpML)
- 80% less resource requirement reduces risk. Allows team to concentrate on the business problem, not the technology
- Purpose built business functionality such as reconciliation and business intelligence
Cost Benefits
- 10,000 business rules in traditional EAI implemented in 1,000 business rules
- 80% smaller implementation team
- 75% less time to market
- 95% less resource to add a downstream system
- Lower maintenance and support cost – business user controlled
Meeting Strategic Business Goals
- Mitigation of operational risk with improved data quality in downstream systems
- Product innovation – flexible environment to support the use of complex derivatives
- Regulations – MIFID, KYC, SOX, Basel II
- Number of downstream systems expanding
- STP challenges
- Cost control
Why PolarLake
- Proven patented data distribution platform
- Expertise in data distribution projects
- Domain expertise
- Specialist product (buy vs build)
About PolarLake
PolarLake enables firms to deliver on the full promise of EDM, integrating into downstream systems with 75% less time and 80% less resources than generic ETL products. Its flagship product, PolarLake RDD (Reference Data Distribution) is a domain specific Integration application built to manage to end-to-end process of Reference Data Distribution.
PolarLake RDD provides unique capabilities for Business Operations, Business Analysts and Technology to manage and control Reference Data Distribution. PolarLake has been recognized by Industry Analysts as a leader in its space, named by Aite as the most packaged Reference Data Distribution solution and included in the Gartner visionaries’ quadrant. PolarLake’s clients include Global Sell side, Buy side and Asset Servicing Institutions.
For more information contact us.
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