According to Tsigutkin, the ability to amalgamate millions of transactions across business functions in a judicious manner with constant technological evolution has culminated into a challenge. The company’s global strategic platform’s unique approach aggregates and enriches data from various core financial, risk, and operational applications without any data conversion— facilitating greater efficiency and scalability. It provides multidimensional analysis capabilities via disaggregation of an entire portfolio’s risks and exposures, isolating those components to the lowest level of granularity while supporting multiple submission formats including XBRL.
As the quantum of structured and unstructured data grows and the requirement for transparency and traceability from regulators continue, Tsigutkin observes that the volume and granularity of data demanded by regulated and management entities are also growing. “Data must flow seamlessly through its products and lines of business, not only to support growth strategies, but also meet the ever-expanding regulatory compliance mandates,” adds Tsigutkin. This data fragmentation results in major struggles for firms when aggregating, enriching, analyzing, and validating vast amounts of information in order to accurately report their overall risk exposure. AxiomSL’s data-driven strategic platform steps in and acts as an integration and application development layer, which is implemented with minimal internal disruption and without a “black box” mentality.The global strategic platform comprises of two comprehensive solution namely ControllerView for regulatory and management financial reporting with an advanced Risk Management solution— and IntegrationCenter and Dynamic Data Warehouse, a complete integration and data-warehousing offering.
AxiomSL’s collaborative platform facilitates unification of business and IT teams by bridging the differences in terminologies and methodologies
AxiomSL’s platform empowers financial firms to meet the challenges of BCBS 239 as the metadata layer provides lineage information from original source through the entire process to submission results. Addressing the challenges around risk data aggregation, data lineage, and data governance, financial firms need to establish integrated data taxonomies and architecture across the enterprise, which include information on the characteristics of the data (metadata) as well as unified naming conventions. “Our platform can create common translation tables to standardize clients’ metadata, which may be dispersed across the firm. Further, this integrated approach consolidates financial, risk, and reference data,” adds Tsigutkin. “The strategic platform treats data from multiple systems in its native state, with natural tracking of lineage and metadata production as data travels from one analytical/reporting layer to the next and from systems change management to business rules transparency.”
Tsigutkin advises firms to implement a robust data-driven platform which can act as a catalyst in linking the firm’s strategic initiatives across regulatory compliance, finance, risk, and operational activities. “AxiomSL’s collaborative platform facilitates unification of business and IT teams by bridging the differences in terminologies and methodologies,” he states. For the days to come, the company will enhance their platform to guide customers in a productive manner. “Firms should realize it is not about developing new apps as point solutions, but transforming businesses for future success,” concludes Tsigutkin.
TimeXtender Announces Several New Features in Discovery Hub
July 2019 -- TimeXtender, a recognized global software company enabling instant access to any type of data in an organization to support advanced analytics and artificial intelligence (AI), today announced that several new features have been designed in its Discovery Hub® data management platform.
TimeXtender has redesigned the user interface that now includes flexible tabs, making it even easier to build a modern data estate. A new solution explorer provides a more complete view of the overall data estate defined in Discovery Hub.
This upgrade is also significant since Azure Data Lake Storage Gen2 now fully supports data storage. Using Discovery Hub, customers can now prepare for big data analytics, while also providing file system semantics, and directory and file level security.
In addition, Discovery Hub now uses Azure Databricks to manage incremental loading to Azure Data Lake Storage Gen2, as well as transferring data from a Discovery Hub Operational Data Exchange (ODX) to a Modern Data Warehouse (MDW).
“Being a technology leader is about continuously developing your technology offering to make it faster, better, stronger. This unyielding focus establishes that TimeXtender is ahead of the curve when it comes to serving customer and market needs. And that’s what we’ve accomplished with this new release of Discovery Hub,” said Heine Krog Iversen, CEO of TimeXtender. “With this newly designed user interface, data engineers and data architects will be able to develop a modern data estate even faster. We look forward to providing this new version of Discovery Hub to our partners and customers around the world.”
TimeXtender is exhibiting at the Microsoft Inspire event in Las Vegas from July 14-19. Attendees can stop by the TimeXtender booth, #2310, to see a live demo of this new release of Discovery Hub. Company executives will also be available to meet with existing and potential partners during the event.
In addition, this Discovery Hub announcement comes on the heels of the company’s recent announcement that it was named a Finalist in the 2019 Microsoft Data Estate Modernization Partner of the Year Award.
Visit here, to find out more about how Discovery Hub helps companies rapidly deploy and manage their data estates and prepare their data for analytics and AI.