WestLB Panmure has implemented FTI's streetmap data modelling software to help with the planning and development of an enterprise-wide database of counterparties, instruments and employee data for the bank's London-based business.
"Even with highly experienced staff, financial data analysis leaves plenty of room for mistakes and omissions, and corrections are time consuming and expensive," says Steve Laing, head of development at WestLB Panmure.
He says FTI's streetmap will not only save on development time but also mitigate development risk by providing a proven data architecture for writing new applications.
"Since streetmap is multi-product and multi-entity, we consider it a strategic foundation for future growth because we're able to build systems that deal with the complex and multiple relationships and hierarchies inherent in our business," he adds.
Streetmap is currently used by over 50 financial institutions. The product creates an infrastructure for processing, storing and analying all financial transactions and reference data across the enterprise.