To deliver master data management solutions that are tailored to the needs of financial institutions
Kingland Systems, a provider of financial services software and data solutions, has entered into an original equipment manufacturer (OEM) agreement with IBM.
According to the ageement, Kingland Systems will embed IBM’s InfoSphere master data management server and other IBM software into its 360 Data line of enterprise data management solutions for the financial services industry.
This agreement marks an expansion of Kingland’s relationship with IBM, focusing on worldwide master data management (MDM) software and data solutions, optimized for large financial services institutions.
To address customers’ needs for customized MDM solutions, IBM recently introduced Master Information Hub, an optional component of InfoSphere Master Data Management Server 9.0.
Master Information Hub was created for businesses seeking to build a master data management system that includes custom-built data domains in addition to IBM’s pre-built domains for customer, product and account. These customers can use Master Information Hub to develop a custom MDM environment to establish a trusted view of any type of master information.
Kingland’s 360 Data includes two types of outsourced reference data solutions, 360 Data Master File and 360 Data Reference Desk. 360 Data Master File is a managed data solution that provides clients with a highly accurate database of business entities, securities, complex relationships, events and other types of financial services data.
The 360 Data Reference Desk solution provides ”on demand” data cleansing, augmentation, and validation for critical business processes such as client on-boarding, risk analysis, and compliance functions.
David Kingland, president and CEO of Kingland Systems, said: “In this era of risk sensitivity, mergers and acquisitions, and evolving compliance regulations, the need for highly accurate data and enterprise-class MDM software has never been greater.
Our years of experience have shown us that financial services enterprise data problems require customizing the solution to the precise needs of the client, so we chose to team with IBM, whose new MDM software products are built for customization and will enable us solve our customers’ problems much faster and more precisely.”
Rob Thomas, vice president of information management at IBM, said: “Through the technologies and industry-specific expertise we are bringing together, Kingland and IBM can deliver master data management solutions that are tailored to the unique needs of financial institutions. By incorporating IBM technologies into its own offerings, Kingland can more quickly deliver flexible and scalable financial services master data and software solutions.”