Mizuho International, a subsidiary of one of the largest financial institutions in Japan, has gone live with enterprise data management (EDM) vendor GoldenSource’s GoldenSource EDM platform, officials say. Mizuho is using the platform for client and counterparty management to support its trading, risk and compliance functions of its investment banking business across its London operations.
Mizuho will also use the platform for automated client on-boarding and as “a single source of truth for all customer and counterparty data,” according to a GoldenSource statement. The GoldenSource EMD platform is used to acquire, validate, manage and distribute customer and counterparty data across the business, and its “automated workflows have replaced previous error-prone manual processes,” Goldensource officials say.
“This project is fundamental to Mizuho’s long-term strategy of growing the business,” says Kevin Gage, chief information officer (CIO) at Mizuho International, in a statement. “GoldenSource has enabled us to significantly reduce on-boarding times by providing a quick and efficient process. Moving to this automated, workflow-based approach has significantly reduced the level of operational risk and improved data quality,” Gage says. “GoldenSource is being used by a broad spectrum of over 140 users, ranging from front office traders and directors to risk and compliance teams.”
Operational processing and interactions among the areas of the business have “become far more streamlined, improving the business user experience,” Gage adds. “Furthermore, the transition to a central hub for all legal entity data, is helping to improve our data governance framework as well as facilitate our compliance with existing and emerging regulatory requirements.”
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