Soliton Inc., a leading provider of data management solutions, is pleased to announce completion of its credit data management module, combining credit risk ratings and issuer data with legal entity and counterparty data from CounterpartyLink.
Soliton focuses exclusively on providing data management solutions. The company's robust data management platform, TimeSquare, allows financial institutions to take complete control of their entire data workflow by automating the acquisition, integration and management of data. Its end-to-end functionality provides an opportunity to eliminate operational and processing risks, with the added benefit of a solid audit trail to satisfy regulatory and compliance obligations.
CounterpartyLink's comprehensive legal entity and counterparty data is fed into TimeSquare, where the data model rationalizes, stores, and aggregates the data, seamlessly linking it with credit and issuer data and creating accurate standardized hierarchical relationship information. This integration enables financial institutions to improve the management of limits by issuers and standardize their approach to compliance and credit risk.
"We are very pleased to extend the TimeSquare platform to incorporate CounterpartyLink data," said Nazir Noormohamed, Soliton's President & CEO. "This latest development is an example of Soliton's continual evolution to meet the critical regulatory and process control initiatives brought about by Know Your Customer, Sarbanes Oxley and Basel II."
The rapid expansion of the credit markets and increased regulatory scrutiny requires the availability of quality entity data partnered with a sophisticated data management platform. "We are very enthusiastic about working with Soliton," said Christoph Lammersdorf, Managing Director of CounterpartyLink. "CounterpartyLink offers superior quality of legal entity data brought about by stringent data collection and maintenance processes. The combination of this data and Soliton’s excellent data management processes provides a complete solution for customer data compliance."