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To help financial institutions respond to an evolving data landscape, the latest version of the 3di Profiler API, a web-based industry intelligence tool, now supports content integration with Element22’s native cloud-based service and data sourcing management and optimization product, Benzaiten.
“New technologies and open application programming interfaces are changing data supply chains, and third-party data licensing is requiring more surveillance in the enterprise and more intelligence with respect to proprietary licensing factors,” said Stephen Veasey, COO, 3d innovations. “As a result, new tools and approaches are needed, and older systems are required to evolve.”
“As part of this strategic partnership, cross-functional teams within firms can now successfully expedite contract and vendor management, optimize inventory management, market data cataloging, and data glossary implementations, or any area within the data supply chain that requires technical, risk, and compliance or business operations teams to collaborate,” he continued.”
According to IDC, the amount of worldwide data generated in the last two years has been more significant than in the whole history of humanity. The global datasphere is expected to hit 175 zettabytes by 2025, with an annual growth rate of 61%.
These challenges and a shortage of data professionals have created a demand for a more complete data management eco-systems that simplify, organize, automate, and inform on the internal use of third-party data sources. This, in turn, helps financial services firms stay finely tuned to the costs and value of the data they have to govern.
“Emerging technology and the evolution of regulatory requirements have led CIOs and CDOs to refresh their data priorities and focus areas. As financial institutions establish and stabilize their foundational data and analytics assets on the cloud, our clients are asking for enhanced vendor licensing detail that is important to other parts of the data management and procurement domain,” said Methea Tep, Partner, Element22.
“Our primary commitment is to provide value to our clients by helping them optimize their market data commercial management operations efficiency and reduce market data expenses. Recognizing 3di Profiler as the industry leader in providing comprehensive information and analysis on market data vendors and their products, we integrated this authoritative content with our technological capabilities and strategic methodology. This integration is designed to bring further value to our clients, enabling them to access both offerings seamlessly within a single, streamlined technology platform,” he continued.
You can find 3d innovations and Element22 representatives at today’s FISD New York Meeting.
Tinne Teugels
RISE-
[email protected]
