Financial Technologies International (FTI), the leading provider of Financial Enterprise Software (FES) to the global banking and securities industry, today announced the launch of “StreetConsolidator”, a Strategic Information Management (SIM) solution.
StreetConsolidator offers a consolidated real-time view of critical customer, market, financial and operational data, “giving businesses the control they need in today’s regulatory-intensive market”, FTI said.
“A holistic view of your data, be it customer data, market data or financial data, is critical to remaining competitive,” said Mike Meriton, president and CEO of FTI. “Institutions are struggling with how to turn the data they have amassed within their systems into knowledge that can be used to support corporate planning, regulatory compliance and revenue generating opportunities that enhance business performance. FTI’s StreetConsolidator Solution is designed specifically for this purpose,” Meriton added.
Investing in StreetConsolidator to process multiple products, currencies, and legal entities on one integrated real-time back office data consolidation store lowers IT and operations costs by eliminating the limitations and huge overhead of redundant legacy data stored in “processing silos”.
Specifically, StreetConsolidator handles four critical data consolidation areas: providing a logical data model for storing the needed information; translating data into a common format and representation to ease analysis and reconciliation of the data from various systems, even if outsourced; loading the standardized data into the physical database created from the data model; and finally, accessing the data whether through publication to downstream systems or inquiry access via real time dashboards and Business Intelligence tools.
Through StreetConsolidator, firms will achieve a greater ROI, be able to migrate to newer n-tier technology, and leverage a comprehensive platform that has the flexibility and scalability to meet emerging and future data requirements for such industry developments as: Sarbanes Oxley or Basel II compliance, enterprise wide risk management, enterprise wide customer service, or the re-emergence of STP initiatives, said FTI.