Bayard's, One Hanover Square New York, NY, 10004 US
Nov 17, 2005
Enterprise data management (EDM) is gaining strategic momentum among financial institutions globally. Data management is no longer perceived as a mere back office activity; instead, senior management is recognizing its importance and the need to consolidate data across the enterprise.
The drivers behind this trend include technology innovation and tighter compliance with regulations such as Sarbanes Oxley, the USA Patriot Act, Privacy Laws and Basel II. These have led the industry to consolidate data across enterprises in order to more effectively monitor activities and exposure, reconcile transactions and meet corporate governance and risk assessment demands.
In order to achieve centralized enterprise data management, institutions must be able to integrate and link data from a variety of sources to internal resources and systems such as client databases and credit risk management applications. According to a recent report published by Aite Group, IT spending on enterprise data management projects has been increasing and will continue to do so in the next few years, reaching well over US$2billion by the end of 2009.
Although data has recently been recognized as a corporate asset that serves the entire organization, arguing the case for EDM has proven to be a challenge for Data Managers. Presenting the business case to senior management requires promoting the value of data consistency across the business units to provide a single voice to customers and to meet the increasing regulatory requirements and industry standards.
This conference will bring together practitioners from key segments of the industry to evaluate the current status and opportunities for using enterprise data. The event will also include an exhibit of leading reference data and data management vendors.