In today's digital landscape, the ubiquity of data is undeniable. The strategic organization of data is paramount for business success. For years, companies have aspired to be data-driven, and asset management firms are no exception. However, the path to data-driven success in asset management has encountered unique challenges.
Asset managers require data that is easily accessible, secure, comprehensible and conducive to streamlined reporting. Yet, the explosive growth of data has brought about legitimate concerns related to data ownership and privacy. These concerns echo the sentiments expressed in 2022 Harvard Business Review article, which adds to the ‘growing concerns regarding privacy and data ownership’. Likewise, data security and preservation have been emphasized by institutions like UK, Imperial College London that expressed ‘keeping data safe and secure is an important aspect of good research data management’.
Investing in robust data management is essential to give regulated firms transparency, control and accessibility. A well-structured data management strategy not only helps firms fulfil their data governance obligations to investor and the regulators but also enables them to exercise control over data access. By layering access to data by job roles and responsibilities, firms can help to mitigate against both internal and external data access issues and security.
At PBI, we understand the pressures that firms face when it comes to keeping their data safe and organised. Our Security Master is designed to support firms to implement an effective data management strategy. Security Master assists clients by centralising and simplifying the management of securities terms and conditions, reference data and entities. In addition to out of the box security definition, one of the key features is the dynamic model, which empowers users to easily define entity and reference types, as well as manage attributes to aid quick decision making, without any additional programming. Furthermore, Security Master seamlessly integrates with industry standard platforms through already available API’s.
In the complex landscape of 2023, navigating the data maze is a formidable task. Security Master seamlessly integrates into your workflow, acting as a centralized repository for security and reference data.
If you would like to learn about how our Security Master can help your firm to develop a data management strategy that is organised, accessible, safe and user friendly, contact us today.