To enhance business entity data at financial institutions
Asset Control, a provider of financial data management services, has collaborated with Avox to provide financial institutions with the ability to use fully verified global business entity data across their organizations.
Mutual customers of Asset Control and Avox will be able to integrate Avox’s business entity data service with Asset Control’s centralized data management services.
Asset Control has said that with Avox providing quality entity data complete with universal identification to its platform, financial institutions have an accurate, documented and auditable data management process for compliance and risk management purposes.
Ken Price, CEO of Avox, said: By partnering with Asset Control, our mutual customers will be able to access validated and stress-tested data, and freely distribute it across multiple source systems, business units and locations within their organizations, all from within Asset Control’s data management platform.
Phil Lynch, president and CEO of Asset Control, said: Asset Control’s integration with Avox will help financial organizations to minimize latency of entity data within a centralized information framework. This integration is one of many ways that Asset Control continues to focus on helping financial institutions to improve data quality and timeliness, especially in an environment in which the ability of financial institutions to minimize credit, counterparty and operational risk remains crucial.