DataArt Scoops Prestigious “Best Regulatory Reporting Application” Award at Data Management Review Awards
DataArt utilised its extensive experience and understanding of working with the asset management industry to develop the award winning fund management reporting application
Nov 19, 2015
London – November 19, 2015 – Global technology consulting firm DataArt last night defeated stiff competition from contenders, including Sapient Global Markets, Unavista (London Stock Exchange), Wolters Kluwer and Lombard Risk to win the "Best Regulatory Application" award at the 2015 Data Management Review Awards. The win solidifies the company’s role at the forefront of financial data management innovation.
DataArt utilised its extensive experience and understanding of working with the asset management industry to develop the award winning fund management reporting application. The Form PF (Private Fund) and AIFMD (Alternative Investment Fund Managers Directive) reporting application helped users to gear up for the directive’s deadline, and was one of the first-to-market solution following the announcement of the new directive and original deadlines for enforcement. The winning app is an updated version of the original app.
DataArt is now applying the same strengths to work on bespoke solutions to help funds gear up for Markets in Financial Instruments Directive II (MiFID II) and BCBS (Basel Committee on Banking Supervision) 239, devising solutions to help firms efficiently collect, aggregate, validate, govern and report data in accordance with European Securities Markets Authority (ESMA) and Financial Conduct Authority (FCA) requirements.
DataArt UK Financial Services Practice Leader, Alexey Utkin said:
"With MiFID II looming just one or two years away, and more regulations and directives in the pipeline, this award helps demonstrate that DataArt is a key player in enabling companies to prepare for compliance measures."
The announcement that MiFID II will come into effect 03 January 2017, now likely to be extended to the 2018, has left many financial firms scrambling to update their systems to fit within the required regulations.
"Receiving this award is an honour and a testament to the thinking and approach that went into the application," Utkin continued.
"DataArt’s technology excellence in the financial data management space allows clients to meet regulatory reporting requirements speedily, enjoying the flexibility of custom solutions. We’re perfectly placed to make sure that the financial services industry is sufficiently prepared for MiFID II."
The company aims to bring in the benefits of bespoke solutions, such as flexibility, controlled quality, data and systems landscapes and combine these benefits with those of out-of-the-box products or services such as accelerated time to market and reduced cost. The ability to deliver such solutions in a timely fashion is critically important when dealing with regulations.
Utkin continued:
"Regulatory pressure certainly will be the major driver for the financial services agenda over the past few years. But smart companies are not looking at the regulations in isolation. For them, compliance data can also address the other demands of today, which originate from each individual firm's business strategy. These include increased appetite for insight, management information, investor reporting, self-service business intelligence, data lineage and analytics, and more timely and granular data delivery.
"Data is transforming business reality for many financial firms. We observe a growing maturity of data management approaches and data is now recognised as a very valuable asset, as is its governance and quality management. The DataArt approach is not to take regulation problems out of the business context, but rather to deliver a solution which is effective in addressing both regulatory and business priorities."
DataArt utilised its extensive experience and understanding of working with the asset management industry to develop the award winning fund management reporting application. The Form PF (Private Fund) and AIFMD (Alternative Investment Fund Managers Directive) reporting application helped users to gear up for the directive’s deadline, and was one of the first-to-market solution following the announcement of the new directive and original deadlines for enforcement. The winning app is an updated version of the original app.
DataArt is now applying the same strengths to work on bespoke solutions to help funds gear up for Markets in Financial Instruments Directive II (MiFID II) and BCBS (Basel Committee on Banking Supervision) 239, devising solutions to help firms efficiently collect, aggregate, validate, govern and report data in accordance with European Securities Markets Authority (ESMA) and Financial Conduct Authority (FCA) requirements.
DataArt UK Financial Services Practice Leader, Alexey Utkin said:
"With MiFID II looming just one or two years away, and more regulations and directives in the pipeline, this award helps demonstrate that DataArt is a key player in enabling companies to prepare for compliance measures."
The announcement that MiFID II will come into effect 03 January 2017, now likely to be extended to the 2018, has left many financial firms scrambling to update their systems to fit within the required regulations.
"Receiving this award is an honour and a testament to the thinking and approach that went into the application," Utkin continued.
"DataArt’s technology excellence in the financial data management space allows clients to meet regulatory reporting requirements speedily, enjoying the flexibility of custom solutions. We’re perfectly placed to make sure that the financial services industry is sufficiently prepared for MiFID II."
The company aims to bring in the benefits of bespoke solutions, such as flexibility, controlled quality, data and systems landscapes and combine these benefits with those of out-of-the-box products or services such as accelerated time to market and reduced cost. The ability to deliver such solutions in a timely fashion is critically important when dealing with regulations.
Utkin continued:
"Regulatory pressure certainly will be the major driver for the financial services agenda over the past few years. But smart companies are not looking at the regulations in isolation. For them, compliance data can also address the other demands of today, which originate from each individual firm's business strategy. These include increased appetite for insight, management information, investor reporting, self-service business intelligence, data lineage and analytics, and more timely and granular data delivery.
"Data is transforming business reality for many financial firms. We observe a growing maturity of data management approaches and data is now recognised as a very valuable asset, as is its governance and quality management. The DataArt approach is not to take regulation problems out of the business context, but rather to deliver a solution which is effective in addressing both regulatory and business priorities."