Italian banking group Consorzio Operativo MPS has selected the GoldenSource Customer and Counterparties solution to create a standardised reference data repository for the group’s counterparty data.
GoldenSource will establish, maintain and publish the repository, offering a central approach to counterparty data in a bid to create greater operational efficiency with less operational risk, and improved time-to-market.
The solution can also help the group in complying with both current and future regulatory requirements.
Consorzio Operativo will have a single view of entity data, including a breakdown of complex corporate hierarchies, allowing business users to better understand client relationships and corporate structure.
Enrico Farina, manager of Consorzio Operativo MPS, said: “This project is fundamental to MPS Group’s long-term strategy of growing the business. GoldenSource will enable us to significantly reduce on-boarding times by providing a quick and efficient process. Moving to this automated, workflow-based approach will significantly reduce the level of operational risk and improved data quality.”
“We believe that GoldenSource provides an optimal solution to these issues and look forward to working closely together with them to improve the financial reference data landscape.”
Max Broggi, vice president and head of sales for Europe, the Middle East and Africa at GoldenSource, added: “We are very pleased to have partnered with Consorzio Operativo MPS to help them improve their data governance framework as well as facilitate their compliance with existing and emerging regulatory requirements.”
