Asset Control, a provider of investment data integration solutions to the financial industry, today announced that BBVA has chosen Asset Control as the integration infrastructure for management of investment pricing and reference data. The system provides a central data repository for the enterprise and will ultimately replace a number of decentralized databases. The initial deployment of Asset Control will support enterprise risk management.
As an international institution with a broad spectrum of investment-related operations, BBVA required a data integration platform that would deliver a high-quality consolidation of vendor feeds, as well as normalizing internal data from various business areas and applications. Asset Control addressed those challenges with a solution that allows BBVA to extend its planning well beyond the initial scope of the project.
The first phase of the risk management project is scheduled for completion this month. Geographic rollout will begin in Spain, and extend to Europe and then Latin America.
“BBVA is our first customer headquartered in Spain, and we are pleased that Asset Control could meet their rigorous requirements for quality management and adaptability to a variety of data sources,” says Ger Rosenkamp, CEO of Asset Control. “We think it is significant that BBVA, like other new customers, plans to progressively leverage a risk project into an enterprise data quality control initiative. This reflects the rising industry awareness that centralized data control is critical to meeting to many business challenges.”