ABN AMRO has deployed PaceMetrics' Assure solution at its headquarters in Amsterdam to manage data across all asset classes.
The completion of first and second phase of the Assue solution installation will enable the Dutch bank for continuous management of pricing and reference data, including data cleansing and distribution to a large number of downstream systems and departments.
According to the PaceMetrics, Assure speeds up the take-on of new financial instruments and provides a full audit trail of all data cleansing activity, as well as data quality indicators for all instruments.
Financial instruments covered include foreign exchange, interest rates, curves, volatilities and inflation products. The group plans to add bonds, derivatives, commodities, futures and extensive Basel II information.
PaceMetrics has claimed that its lean data model monitors only the data being used and will help in reduction of time to market and maintenance costs for the bank.
PaceMetrics CEO Gerry Giblin said that with this implementation, ABN AMRO has achieved a fully integrated approach to enterprise data management, which is already generating tangible business advantages, in terms of reduced costs and increased productivity.
“The transparency, auditability and extensive data coverage provided by Assure will also give the bank true confidence in its data, which is essential in today’s market with its increasing regulatory demands,” Giblin said.