Kingland Systems, a premier provider of financial services software and data solutions, today announced it will embed IBM's InfoSphere Master Data Management Server and other IBM software into its 360 Data line of enterprise data management solutions for the financial services industry through an original equipment manufacturer (OEM) agreement with IBM.
This agreement marks an expansion of Kingland's relationship with IBM, focusing on worldwide Master Data Management (MDM) software and data solutions, optimized for large financial services institutions.
David Kingland, President and CEO of Kingland Systems, says that, "in this era of risk sensitivity, mergers and acquisitions, and evolving compliance regulations, the need for highly accurate data and enterprise-class MDM software has never been greater. Our years of experience have shown us that financial services enterprise data problems require customizing the solution to the precise needs of the client, so we chose to team with IBM, whose new MDM software products are built for customization and will enable us solve our customers' problems much faster and more precisely."
"Through the technologies and industry-specific expertise we are bringing together, Kingland and IBM can deliver master data management solutions that are tailored to the unique needs of financial institutions," said Rob Thomas, vice president, Information Management, IBM. "By incorporating IBM technologies into its own offerings, Kingland can more quickly deliver flexible and scalable financial services master data and software solutions."
To address customers' needs for customized MDM solutions, IBM recently introduced Master Information Hub, an optional component of InfoSphere Master Data Management Server 9.0. Master Information Hub was created for businesses seeking to build a master data management system that includes custom-built data domains in addition to IBM's pre-built domains for customer, product and account. These customers can use Master Information Hub to develop a custom MDM environment to establish a trusted view of any type of master information. For example, using Kingland's "securities and corporate hierarchy" domains together with IBM's MDM Server, a bank's risk operation would gain access to a comprehensive view of all enterprise holdings, clients, subsidiaries, and complex business relationships from across multiple lines of business.
Kingland's 360 DataTM includes two types of outsourced reference data solutions, 360 Data Master File and 360 Data Reference Desk. 360 Data Master File is a managed data solution that provides clients with a highly accurate database of business entities, securities, complex relationships, events and other types of financial services data. This master file is managed with client-specific business rules and includes a concordance to multiple industry and client-specific identifiers, and can be provided via file or web services. The 360 Data Reference Desk solution provides "on demand" data cleansing, augmentation, and validation for critical business processes such as client on-boarding, risk analysis, and compliance functions.
Both solutions are supported by Kingland's proprietary suite of data management software, IBM's new Master Information Hub, and Kingland's extensive database of more than 4 million global securities and 5.25 million unique industry identifiers with linkages to more than 900,000 business entity records and corporate hierarchies.
Kingland will also be launching a new financial services optimized MDM platform in 360 Data Enterprise Hub. Developed using IBM's InfoSphere Master Data Management Server, 360 Data Enterprise Hub will provide financial institutions with industry specific data domains, feed handlers, business process and data management workflows, user interfaces, data maintenance and quality processes that are all optimized to support the wide variety of data critical to large banking, capital markets, and other financial services firms.
Tony Brownlee, head of financial services MDM at Kingland says, "the combination of IBM's investment in MDM and Kingland's financial services data expertise will be powerful for our customers. Our focus with 360 DataTM is enterprise scalability, customizable data models, flexible architecture, and as always, highly accurate data." The 360 Data suite of solutions helps companies drive cross-organizational revenue growth, manage enterprise risk and compliance, and reduce overall IT costs in their enterprise data management projects.