Today, RIMES, a strategic data partner for financial institutions, launches Lean Data Management, powered by RIMES Managed Data Services (MDS).
Lean Data Management is a flexible, cloud-based, service-led approach that redefines data operations for the financial services sector. The lean approach resolves the longstanding challenges associated with costly, inflexible enterprise data management technology by providing unprecedented control of and visibility into the entire data supply chain.
Lean Data Management is built on three core principles:
• Improve business outcomes: Deliver trusted, timely, accurate and complete data seamlessly across the enterprise. Free up capacity to generate data insights that drive growth and differentiation.
• Eliminate waste: Embed a proven service model that solves the complex operational data management problem efficiently without the need for additional people or technology investment.
• Enhance adaptability: Future-proof data management with a transparent, comprehensive cloud-based service and expert advisory. Become highly responsive to business needs and evolve with the market.
The solution offers a consumption-based model that ensures clients only subscribe to the services they need, when they need them. This flexibility means that if circumstances change, it can meet future needs without having to change the technology powering the data management, which enables organisations to predict the cost of change.
Christian Fauvelais, CEO, President and Co-Founder, RIMES said: “We have been speaking to those at the forefront of data management about their issues trying to navigate today’s market. The message was clear, the current Enterprise Data Management (EDM) operating model is unsustainable and legacy technologies unscalable. Over the last year, firms have experienced some incredible challenges. Faced with intense fee pressure, rising competition, and a newly distributed workforce, firms reached a critical inflection point in their approach to data. Despite significant investment in technology, data management strategies are not generating business benefit. Workflow and resource allocation remains inefficient, and firms are unable to keep up with the rapid pace of change. Simply put, the risk and cost of managing data within the legacy operating model is no longer an option to meet the demands of financial institutions today.
“RIMES’ lean approach to data accelerates firms’ digital transformation with a service that evolves with the market. Built on a cloud-based, proven model that already serves over 350 clients worldwide, with RIMES MDS, we now extend our process, technology and expertise far beyond Index to help firms scale at speed and extract the maximum value of all of their data.”
Lean Data Management powered by RIMES MDS is underpinned by industry-leading data management process, domain expertise and cutting-edge cloud technology. It accelerates all data workflow, including sourcing, validation, mastering, and highly customised delivery of data to any system across the organization. RIMES suite empowers users with ready-to-use data, analytics, and reporting tools, all completely aligned to business policies and regulatory standards.