Financial Technologies International (FTI), the leading provider of Financial Enterprise Software (FES) to the global banking and securities industry, today announced the launch of StreetConsolidator. As a Strategic Information Management (SIM) solution, StreetConsolidator offers a consolidated real-time view of critical customer, market, financial and operational data, giving businesses the control they need in today's regulatory-intensive market.
StreetConsolidator is an evolutionary integrated offering taking the combined strengths of FTI's reference and financial data management solutions, to enable firms to centralize and consolidate data across business units and the extended enterprise in order to harness the collective value of previously siloed information. Successful strategic planning, risk management, decision-making and revenue generation relies upon the availability of solid, dependable data.
"A holistic view of your data, be it customer data, market data or financial data is critical to remaining competitive," said Mike Meriton, president and CEO of FTI. "Institutions are struggling with how to turn the data they have amassed within their systems into knowledge that can be used to support corporate planning, regulatory compliance and revenue generating opportunities that enhance business performance. FTI's StreetConsolidator Solution is designed specifically for this purpose."
Investing in StreetConsolidator to process multiple products, currencies, and legal entities on one integrated real-time back office data consolidation store lowers IT and operations costs by eliminating the limitations and huge overhead of redundant legacy data stored in "processing silos". Firms will achieve a greater ROI, be able to migrate to newer n-tier technology, and leverage a comprehensive platform that has the flexibility and scalability to meet emerging and future data requirements for such industry developments as: Sarbanes Oxley or Basel II compliance, enterprise wide risk management, enterprise wide customer service, or the re-emergence of STP initiatives.
FTI's StreetConsolidator solution is based on the industry leading data model and designed to provide a single, unifying architecture that ensures consistency and ease of use in accessing the data housed across the enterprise. StreetConsolidator helps institutions standardize how data is stored and distributed across the organization, yielding more consistent, timely, and efficient information management.
Specifically, StreetConsolidator addresses the following four critical data consolidation areas:
- Providing a logical data model for storing the needed information
- Translating the data into a common format and representation to ease analysis and reconciliation of the data from various systems, even if those systems are outsourced
- Loading this standardized data into the physical database created from the data model
- Accessing the data, whether through publication to downstream systems or inquiry access via real time dashboards and Business Intelligence tools. It creates a solid foundation for data consolidation that can scale to the emerging needs of today's enterprises.