Siperian, a developer of adaptive platforms for customer-centric master data management, and CounterpartyLink, a provider of global, auditable, legal entity reference data to the financial services industry, have formed an alliance whereby CounterpartyLink’s global legal entity data can be fed directly into Siperian’s counterparty master data management application, Siperian Hub.
With this partnership, retail and commercial banks, and capital market organisations can access and utilise key CounterpartyLink data rapidly in order to populate, validate or enhance their legal entity reference data. More specifically, this alliance enables users to quickly and easily link this data to the Siperian Hub to ensure compliance with current antimoney laundering (AML), Basel II and Know Your Customer (KYC) regulations as well as impending regulations such as MiFID and UCITS III.
Managing client and counterparty data is essential for Financial Service firms that seek to leverage back-office data in order to mitigate exposure and manage credit and operational risks, ensure regulatory compliance, and automate key business processes. With a solid Counterparty Hub in place, institutions can leverage this valuable data to better manage client profile information, identify holdings, clients, and organisational relationships, optimise credit policies, and improve their analytical and operational processes for more effective cross-sell and up-sell and customer service initiatives.
“Financial Services firms are constantly challenged to arbitrage data assets and create a solid foundation of counterparty reference data, manage risk groupings and legal entity hierarchies, and create a 360-degree view of accounts and activities in order to be more effective,” says Ken Hoang, the CTO and Founder of Siperian. “With this new partnership, organisations can create a comprehensive, sustainable counterparty hub in order to create a central repository of robust and timely counterparty organizationa data, identify exposures across transactions and then leverage these client counterparty views for compliance, customer relationship management, trade execution, and other business process automation improvements.”
“We are delighted to have entered in to such an agreement with Siperian and to have the ability to offer our mutual customers an easy way to leverage our counterparty data in order to create a unified counterparty data hub,” adds James Redfern, the Global Head of Distributor Management at CounterpartyLink. “This partnership will enable us to leverage Siperian’s robust client and counterparty master data management expertise and, more importantly, provide our financial service clients with solid entity data which is capable of meeting the variety of existing and forthcoming compliance regulations.”