We want to invest in our data management process. Can we integrate new capabilities with our existing data architecture?
There is an old adage that says ‘don’t throw the baby out with the bath water’. Many financial services firms may seek to invest in their data management technology platform and data processes but do not consider the need for a wholesale replacement of their existing data architecture and associated processes. Many firms will operate a data architecture that is essentially fit for purpose in some areas but would benefit from investment in other areas.
If a firm can improve their data management process, governance and architecture whilst retaining the parts and components that still meet operational needs and obtain these improvements at a lower cost, with fewer resources and in a shorter time; it sounds like a fairly compelling argument to invest in better data management technology.
In many financial services firms it is the business operations that require higher levels of control and oversight -while the underlying data architecture is perfectly serviceable. The business drivers for more controlled data processing, improved data quality or better operational oversight are many: – Demanding regulation over key data sets, improving risk controls associated with poor quality data or simply more efficient and demonstrable data management controls within Operations teams.
Curium is uniquely designed to separate the physical data architecture from the abstract data models that support the data processing modules. In this way Curium can integrate with the firm’s existing data architectures and processes providing the improvements where needed. Likewise, it is perfectly feasible to phase the investment of data management components over time rather than in one huge project.
Curium – improving the firm’s data management process, governance and architecture at a lower cost, with fewer resources and in a shorter time…
Examples of partial or phased data management implementations include:
- Using CuriumDQM to provide a business process over the quality of the firm’s key data sets while leaving the physical data architecture and data processing untouched. CuriumDQM will attach to any data architecture and gives the Operations and Data Management teams complete control and oversight over any of the key data sets.
- Implementing high performing matching and data mastering techniques using the Master Data Management components of CuriumEDM – attaching to an existing data architecture and using Curium abstract models to support the MDM business process, with output of master data sets to a current ETL process, data store and/or consuming applications.
- Using the ETL tools of CuriumEDM to gather and process data inputs, and the MDM/DQM components to provide master data management and data quality business processes. Further use of Curium ETL to distribute gold copy output or pass to pre existing data store/warehouse and established downstream connectivity.
The options to integrate best in class data management controls with an existing data architecture are many. CuriumEDM and CuriumDQM give you that capability – total, partial or phased replacement of the firm’s data architecture and data processes.
Curium – Innovative data solutions for real business needs