GlobeNewswire
2012-06-20
TABB Group Study Spotlights Current Reference Data Management
Shortcomings and Charts Way to a Step-Change
REDWOOD CITY, Calif., June 20, 2012 (GLOBE NEWSWIRE) -- News Facts:
-- Informatica Corporation (Nasdaq:INFA), the world's number one independent
provider of data integration software, today released new research in
conjunction with the TABB Group, spotlighting critical reference data
management (RDM) shortcomings, trends and solution investment
considerations across the global financial industry.
-- TABB Group's Reference Data Management: Unlocking Operational
Efficiencies reveals that, while RDM is "a foundational element" of the
financial enterprise, the existing collection of solutions to manage
reference data in most firms "is not yet" satisfactory:
-- Despite huge investments in RDM over the past decade, a remarkable 86
percent of surveyed respondents are dissatisfied with their RDM
capabilities - capabilities that have a direct bearing on risk
measurement, compliance, trade strategy innovation and operational
efficiency/flexibility.
-- Nearly half of these dissatisfied respondents (48 percent) are driven by
a broad goal, such as improving outcomes, rather than a specific catalyst
like compliance - highlighting that RDM is "very much a strategic, rather
than tactical, imperative."
-- 71 percent of overall respondents intend to continue investing in RDM
improvements.
-- As a consequence, says the study, "the capital markets industry is in the
process of transitioning to a new generation of RDM solutions."
-- According to TABB Group, "Centralization of RDM coupled with consistent
processing will ensure improved outcomes just at the time when data
scale, speed and diversity is exploding and downstream use cases are
requiring more heroics."
-- Nevertheless, barriers to optimizing RDM abound; significant obstacles
called out in the study, and ideas for overcoming them, include:
-- Legacy fragmentation of data, solutions and processes - "Virtual
centralization of reference data management" without requiring physical
centralization of the data, and "infrastructure-on-demand, or cloud
solutions" are both options to be considered.
-- Downstream applications dependent on consistent RDM - "Streamlining and
mapping these dependencies will contribute to the overall agility of the
firm's data management infrastructure."
-- The study concludes with specific recommendations for "navigating the
road ahead," including:
-- Firms committed to bolstering their existing suite of RDM solutions -
Should "focus on wrapping the current RDM solution(s) with technology
that enables a consistent enterprise data governance process."
-- Firms yet to make a significant commitment to an RDM solution - Should
"seek solutions that manage multiple reference data domains in a
consistent and integrated enterprise framework," in addition to enabling
data governance.
Tweet This : TABB Report Reveals Reference Data Revolution in
#Financial Industry http://bit.ly/MrU3oY
Supporting Quotes:
-- "In the past decade, capital market firms have awakened to the
indispensible role of effective reference data management in driving
competitive advantage and revenue," said E. Paul Rowady, Jr., senior
analyst, TABB Group and author of the study. "From this survey, it is
clear that current generation RDM solutions are not keeping up with the
challenges and opportunities around reference data as a strategic tool.
The time has come for a sea change, and those firms that are first to
embrace emerging fourth generation RDM solutions will be the first to
grab their share of the treasure chest."
-- "We are seeing strong evidence of how important it is to address the root
causes of existing reference data gaps," said Peter Ku, director of
Banking and Capital Markets Solution Marketing, Informatica.
"Additionally, firms are ratcheting up their focus in this area given the
heightened regulatory environment, expected regulatory approval of the
global Legal Entity Identifier system and increasing costs and risks of
operating homegrown and second generation reference data systems
developed in the 90s."
About Informatica
Informatica Corporation (Nasdaq:INFA) is the world's number one
independent provider of data integration software. Organizations around
the world rely on Informatica for maximizing return on data to drive
their top business imperatives. Worldwide, nearly 5,000 enterprises
depend on Informatica to fully leverage their information assets
residing on-premise, in the Cloud and across social networks. For more
information, call +1 650-385-5000 (1-800-653-3871 in the U.S.), or
visit www.informatica.com. Connect with Informatica at
http://www.facebook.com/InformaticaCorporation,
http://www.linkedin.com/company/informatica and
http://twitter.com/InformaticaCorp.
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CONTACT: Deborah Wiltshire
Informatica Corporation
+1 650 385 5360
mobile/+1 650 862 8186
dwiltshire@informatica.com
Shira Frantzich
Informatica Corporation
+1 650 385 5674
sfrantzich@informatica.com