MoneyMate, a leading provider of investment data management solutions to the global asset management industry, today announced that it has been selected by M&G Investments to implement DataManager to ensure the accurate, efficient and controlled delivery of M&G's fund product data to internal departments, external agencies and external clients.
DataManager will host M&G's range of over 50 retail funds, acting as the firm's central hub for fund data. The data solution will centralise the governance of dynamic and static fund data, facilitating its use via variable formats in a timely manner and providing validation checks. M&G will maintain control through its own specialist department working closely with MoneyMate. DataManager will help M&G succeed in its initiative to adapt to new trends in client data requirements, regulatory scrutiny and risk management.
M&G's key considerations in choosing a service provider were based on flexibility, security and scalability. Given changing demands from clients, increasing product complexity and geographic expansion plans, it sought a flexible and scalable solution that would support future business needs. With regulatory demands for greater transparency of data, it was also important to implement a system that would enable M&G to demonstrate streamlined processes and complete audit trails for all of its data management processes.
M&G Retail COO Laurence Mumford commented, "Our clients demand timely and accurate data from us at all times. We recognise that by centralising the management of product data through the use of MoneyMate's DataManager solution we will be in the optimum position to continue to deliver data to the same high standard as our business grows and client demands increase."
"There is now a clear recognition that resolution of the data quality, transparency and reporting concerns are key priorities within the industry," remarked Conor Smyth, SVP Global Sales at MoneyMate. "Implementing DataManager will enable M&G to enhance the oversight and control of all of their product information, ensuring it is always available in a timely, accurate and consistent manner, allowing them to deliver best-in-class client service."
DataManager is currently being implemented at M&G with phases going llive over the coming quarter.