Zoomix, a leading provider of advanced enterprise master data management solutions, today announced that Brewin Dolphin Ltd., the UK investment firm managing portfolios worth GBP21.6 billion for over 120,000 clients, selected Zoomix's self-learning data management software, Zoomix Accelerator.
Brewin Dolphin is implementing Zoomix Accelerator to automate the matching, standardization and classification of hundreds of thousands of customer and financial data records.
Zoomix Accelerator's self-learning technology provides Brewin Dolphin with a solution to rapidly and accurately address the core challenges of effective data management, integrated into common business workflows. The system automatically learns the relationships and meanings relevant to any data domain by observing decisions made by business users and incorporating them into its knowledge base for application to future operations. This approach avoids the lengthy and expensive manual rule, script and dictionary development required by other approaches - and provides far greater accuracy and flexibility in complex data domains.
In the customer data realm, Brewin Dolphin was seeking a solution to ensure that every client is assigned a unique customer ID, regardless of how many different accounts or recorded name variations exist for that customer. Joint accounts, containing multiple names, presented an added layer of complexity to this challenge. This is a critical element of complying with Financial Services Authority (FSA) transaction reporting requirements.
For financial instrument data, one of the primary business challenges is to rapidly consolidate large volumes of data from external trusted sources such as Thomson and Reuters into the company's operational databases while ensuring that every data record remains consistent, complete and unique.
Brewin Dolphin is integrating Zoomix Accelerator into its data processing infrastructure for the online processing of both customer and financial data. In addition to providing the software, Zoomix is providing consulting services to most efficiently integrate the system with Brewin Dolphin's existing IT infrastructure and to guide business users in rapidly applying the full power of the software.
Brewin Dolphin selected Zoomix Accelerator for its self-learning capabilities and its ability to process both customer and financial product data on a single platform. It was also the only solution that offered all three of the data processing functions sought: matching, standardization and classification.
"We expect Zoomix Accelerator to serve an important role in some of our key data-focused initiatives in a variety of customer and financial instrument data domains," said Aurora Diaz, Divisional Director of Data Management at Brewin Dolphin. "We were impressed with the software's ability to deliver a high degree of accuracy in a very short period of time, without any development effort on our part."
"We are very pleased to be working with Brewin Dolphin on solving a number of key enterprise data processing challenges," said Nathan Birtle, Zoomix's General Manager of European Operations. "We are confident that Brewin Dolphin's decision to implement Zoomix Accelerator will result in substantial competitive advantage and cost savings to the company, within a very short time frame."