Markit, a leading, global financial information services company, today announced that BBVA Asset Management, a worldwide manager of mutual and pension funds, has chosen its Enterprise Data Management (EDM) platform.
The platform will act as a central hub for BBVA's securities, portfolio, fund, issuer and position data in several countries, including Spain and Mexico.
Markit's EDM platform will enable BBVA to manage multiple datasets centrally and efficiently, and will help the asset manager to satisfy growing data demands from customers and regulators. The flexible, scalable solution from Markit is designed to meet the needs of a global firm and provide numerous business users at BBVA with access to systematic, traceable and auditable data.
Daniel Simpson, managing director and head of enterprise software at Markit, said: "Financial services firms are turning to enterprise-wide data management initiatives in a bid to cut costs, streamline operations and minimise operational risk. What resonates is our ability to provide a holistic view of clean, high quality data from a central hub. BBVA's global implementation of Markit EDM will allow the firm to centralise its data across continents to use it as a strategic advantage."
Markit was among several EDM providers competing for BBVA's business and was selected for its platform's flexibility, strong customer references and a successful Proof of Concept.