Financial Data Enterprise (FDE) helps financial institutions to take complete control of their enterprise data by automating acquisition, management and distribution of reference data. FDE acts as a hub that consolidates all disparate data sources with its metadata layer and delivers data to end users, systems and value-chain participants. FDE ensures that the data driving performance attributions, risk analysis, pricing, research, fund accounting and customer servicing and other mission-critical applications is clean, complete and consistent.
The new version, FDE 4.5, includes features such as processing of corporate actions, dynamic creation and setup of instruments and asset classes, data quality management and workflows for outsourced reference data and securities processing operations.
The new outsourcing methodology and framework is aimed at performing core business operations such as trade/securities processing, clearing and settlement processing, custody, and transfer agency operations.
Rajkumar Velagapudi, president of Ness innovative business services, said: The new Business Process Outsourcing (BPO) methodology for financial services enables buy-side and sell-side companies to migrate operations rapidly to offshore, lowering the total cost of ownership. The new version of FDE automates corporate actions, which has been a challenge for our customers, while providing better data quality management and vendor rationalization mechanisms.
