23 January 2018
visit www.ebaday.com

Wachovia live with Accenture reference data management services

07 July 2006  |  5242 views  |  0 Source: Accenture

Accenture (NYSE:ACN) has implemented an information management service for Wachovia (NYSE:WB) that consolidates, validates and enhances Wachovia's reference data on an outsourced basis in order to help the financial firm achieve greater efficiencies, scalability and standardization.

Reference data is static information about securities that includes stock and bond identification data, corporate actions data, end-of-day prices, business entity identifiers and other descriptive data. Accenture's reference data management service supports Wachovia's more than 4.5 million securities, including global equities, fixed income and derivative products.

"This service helps us standardize and centralize our data management processes in order to rapidly deliver "golden copy" reference data throughout the enterprise," said George Vega, managing director and global head of capital markets technology at Wachovia Securities. "By focusing relentlessly on data quality and embracing new technologies and outsourced models, we aim to improve our service to clients and efficiently manage an ever growing volume of trades."

Accenture's reference data service integrates with Wachovia's onsite AC Plus reference database to provide seamless cleansing and management of Wachovia's internal and third-party reference data.

"High-quality enterprise data management is key to reducing the costs and risks of failed trades and empowering a high performance financial operation," said Bill Cline, managing director of Accenture's Capital Markets practice in North America and Asia-Pacific. "Wachovia recognized that our outsourced model can be more cost-effective at cleansing larger numbers of securities at higher quality levels than any single-client onsite solution."

Comments: (0)

Comment on this story (membership required)

Related company news


Related blogs

Create a blog about this story (membership required)
visit www.niceactimize.comvisit www.vasco.comvisit www.fivedegrees.nl

Top topics

Most viewed Most shared
Banks shift priorities toward growth, digitisation and innovation - surveyBanks shift priorities toward growth, digi...
9516 views comments | 38 tweets | 48 linkedin
Standard Chartered establishes fintech innovation and investment unitStandard Chartered establishes fintech inn...
9278 views comments | 14 tweets | 14 linkedin
BofA leads on blockchain patentsBofA leads on blockchain patents
9025 views comments | 12 tweets | 12 linkedin
Sbanken opens developer portal and invites customers to build their own digital bankSbanken opens developer portal and invites...
8383 views comments | 17 tweets | 11 linkedin
Metro Bank joins digital revolution with instant online account openingMetro Bank joins digital revolution with i...
6970 views comments | 13 tweets | 25 linkedin

Featured job

New York, NY - USA (some flexibility on location)

Find your next job