Japan's Aozora Bank live with GoldenSource EDM suite
11 January 2006 | 1608 views | 0
GoldenSource Corporation, a global software provider of Enterprise Data Management solutions to the securities and financial services industry, today announced the successful implementation of its Counterparty solution at Aozora Bank, Ltd, a leading Japanese financial services institution offering trust and banking services.
This is the culmination of the first phase of an extensive implementation of the GoldenSource EDM Suite across Aozora's entire operations. Aozora Bank, as part of its strategy for growth, licensed the GoldenSource EDM Suite of applications to deliver a robust foundation for centralized, cleansed repositories for all key reference data, including counterparties, customers and securities data.
In the past, the importance of accurate counterparty data as part of a securities trade cycle had often been overlooked. However, anti-money laundering regulations, Know Your Customer (KYC) initiatives, as well as the risk management and process control implications of the global regulators, are requiring that financial institutions maintain accurate, linkable counterparty data, as well as demonstrate that they have an auditable, documented data management system in place. GoldenSource is working with Aozora Bank to deliver the optimum enterprise data management environment starting with counterparty data.
The GoldenSource Counterparty Solution, as part of the EDM Suite, helps accelerate enterprise data integration initiatives, enabling enterprises to reduce IT costs and complexity by providing a single, consistent enterprise-wide view of data. The Counterparty Solution is designed to access, transform and integrate counterparty data from a variety of enterprise systems and deliver that information in real time to other transactional systems throughout the bank to support decision-making. GoldenSource software has been successfully integrated into Aozora Bank's workflow by displaying a number of User Interface (UI) screens in Kanji, one of the first reference data management solutions to be translated into the Japanese language.
"The first phase of establishing a comprehensive data management environment is now in place with the GoldenSource Counterparty Solution and we are beginning to derive tangible business benefits in support of our data management strategy after only a few months. This is testimony to the power of the integrated GoldenSource EDM Suite" said Bill Chute, Chief Technology Officer of Aozora Bank, Ltd. "We did not have the luxury of a great deal of time to implement the first phase of our strategy and the GoldenSource team worked with a sense of urgency and professionalism to ensure that the final solution met our specific needs."
Steve Flynn, Senior Vice President, Strategy, Services, & Alliances of GoldenSource comments, "The Counterparty Solution implementation owes its success to GoldenSource's configuration flexibility and the close working relationship built between the Aozora and GoldenSource teams. During the implementation, the joint team worked quickly to resolve project issues to ensure that project momentum was maintained. We look forward to building on this successful implementation to provide Aozora with its next generation infrastructure for enterprise data management across all its enterprise operations."