Financial Technologies International (FTI), the software firm, has re-named itself GoldenSource Corporation.
FTI says ina statement that the new name “more accurately reflects the company’s long-term heritage of providing data-centric solutions and its unique ability to solve some of the industry’s biggest challenges in deploying global Enterprise Data Management (EDM) platforms.”
The new name also aligns the company with its recently unveiled GoldenSource Enterprise product set, which aims to provide a single source of trusted data, on a real-time, integrated platform.
Former FTI applications are used by banks, broker-dealers, asset managers, private banks, wealth managers, CSDs, and custodians.
GoldenSource transforms a financial institution from multiple disparate master files and incompatible systems into an integrated financial enterprise, without the costly replacement of legacy systems. Customers benefit from a system that standardizes, repairs, stores and aggregates data from both disparate market data vendors and a multiplicity of silo transaction systems. As a result, GoldenSource becomes the “single source of truth” for a company’s securities (products), customers, counterparties, positions and transaction data.
“Enterprise data management is finally becoming a reality among leading financial services companies as more institutions are investing in core infrastructure to bring visibility and consistency to data that flows from external sources and throughout the enterprise,” says Tim Lind, senior analyst, TowerGroup. “Solutions in the marketplace are also transforming themselves and are rising to the challenge of meeting the complex requirements of these data management initiatives.”
The new GoldenSource company name is the result of a three-year effort led by Mike Meriton, president and CEO, and aims to encapsulate the transformation of the company from ehat FTi describes as “a customized technology toolkit offering, into a comprehensive software product company delivering a rapid customer return on investment.”
“As a total EDM solution, GoldenSource is driving the long-awaited industry change in how institutions manage data and power their enterprise applications,” says Meriton, president and CEO of GoldenSource. “Organizations around the world have seen how poor data leads to missed opportunities, customer defection and higher costs, as a result GoldenSource EDM solutions are being installed to consolidate company data at an enterprise level to gain a substantial competitive advantage.”