Software automates enterprise reference data management.September 12, 2007 -
Financial Data Enterprise facilitates end-to-end acquisition, management, and distribution of reference data for financial institutions. Acting as transformation and enrichment hub, solution consolidates disparate data sources leveraging its intelligent and dynamic metadata layer and delivers data to end users, systems, and value-chain participants. Abilities include processing of corporate actions, dynamic creation/setup of instruments and asset classes, and data quality management.
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Original Press release
Ness Technologies Inc
3 University Plaza
Hackensack, NJ, 07601
USA
Ness Technologies Launches New Version of its Enterprise Reference Data Management Platform at Foreword Financial Expo
Ness Also Announces New Business Process Outsourcing (BPO) Methodology for Financial Services
September 5 -- Ness Technologies (NASDAQ: NSTC), a global provider of IT services and solutions, today announced a new enhanced version of Financial Data Enterprise (FDE) at Foreword Financial Expo - the forum that addresses the latest IT and operations trends in the financial services market. FDE is an enterprise reference data management platform. In addition, Ness announced a new Business Process Outsourcing (BPO) methodology for asset managers, investment banks, broker/dealers and custodians. FDE and the new BPO methodology were developed by Ness Innovative Business Services (Ness IBS).
A cost-effective, flexible solution, FDE allows financial institutions to take complete control of their enterprise data by automating end-to-end acquisition, management and distribution of reference data. FDE acts as a transformation and enrichment hub that consolidates all disparate data sources leveraging its intelligent and dynamic metadata layer and delivers data to end users, systems and value-chain participants. FDE ensures that the data driving performance attributions, risk analysis, pricing, research, fund accounting and customer servicing and other mission-critical applications is clean, complete and consistent.
The new version, FDE 4.5, includes features such as processing of corporate actions, dynamic creation and setup of instruments and asset classes, enhanced data quality management and streamlined workflows for outsourced reference data and securities processing operations.
The new outsourcing methodology and framework is aimed at performing core business operations such as trade/securities processing, clearing and settlement processing, custody, and transfer agency operations. This best-in-class outsourcing framework consists of rapid on-boarding and migration of operations, continuous improvements, service level agreements and process excellence.
"The new BPO methodology for financial services enables buy-side and sell-side companies to migrate operations rapidly to offshore, lowering the total cost of ownership," said Rajkumar Velagapudi, President of Ness IBS. "The new version of FDE automates corporate actions, which has been a challenge for our customers, while providing better data quality management and vendor rationalization mechanisms."
Ness IBS provides strategic operational and technical integration services to global financial institutions including investment managers, mutual funds, brokers/dealers, third party administrators and hedge funds. Ness IBS offerings include solutions for wealth management, transfer agency and investment management operations, research and trade operations, payer/provider revenue management, customer software engineering and packaged products implementation. In addition to the solutions, Ness IBS provides outsourcing and offshoring services, such as advisory, system integration, product development and business process outsourcing services. Ness IBS clients include Franklin Templeton, Standard & Poor's, Finaplex Inc., PayPal, Wells Fargo Bank, Weiss Ratings and ING Investments, among others.
About Ness Technologies
Ness Technologies (NASDAQ: NSTC) is a global provider of end-to-end IT services and solutions designed to help clients improve competitiveness and efficiency. Ness specializes in outsourcing and offshore, systems integration and application development, software and consulting, and quality assurance and training. With 7,500 employees, Ness maintains operations in 16 countries, and partners with numerous software and hardware vendors worldwide. For more information about Ness Technologies, visit http://www.ness.com/.
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