Datactics extends data quality and matching application with powerful workflow management
New York, Toronto, London and Belfast, March 4, 2015 - Datactics Ltd, a market leader in data quality and matching software to financial services and government, today announces the launch of Data Quality Manager (DQM), a sophisticated browser-based application to help rapidly build and deploy powerful data quality and matching solutions for entity, instrument and regulatory data.
DQM adds value to Datactics’ popular FlowDesigner application which is currently used by bank data specialists to quickly build highly complex solutions to profile, re-engineer and match financial markets information. DQM is designed to facilitate the rapid configuration and management of data quality solutions and allow easy integration with existing master data management and data governance systems. DQM automates the transfer of critical data in the business lifecycle and allows easier access to FlowDesigner’s powerful data processing engines that are able to efficiently process tens of millions of records in memory. DQM is compatible with multiple data formats and source information in the areas of entity, compliance and instrument data.
Clients can choose to set data quality thresholds so that records that fall below defined levels of accuracy are presented for manual validation via the DQM Master Record Manager. Permissioned DQM users are able to review and update individual records as well as view and confirm business rules that have been applied to data. This feature is popular with banks and vendors building two-tiered systems where data that can’t be matched automatically is passed to a near-shore location for review by a qualified content specialist, providing full control of data at multiple levels.
Along with automatic scheduling of data quality solutions, FTP integration and email notifications, DQM also offers clients a dedicated reporting module for business reporting into metrics for various levels of data quality across an organization.
Steve Cowler, Datactics CTO, commented, “The design goal for DQM was to allow us to integrate easily with client’s existing master data management and data governance solutions. DQM builds on top of our existing strengths as a data analyst friendly platform. It gives content specialists, as opposed to programmers, the control to integrate data quality projects generated in FlowDesigner into their existing business processes and infrastructure with minimal disruption. Early adopters like CounterpartyLink and Equiniti have cited greatly reduced implementation times of days or weeks.”
Stuart Harvey, Datactics CEO, said, “The addition of DQM to our core platform has been widely welcomed by clients. Increasingly standards like BCBS 239 and EDMC’s Data Capability Model mandates that profiling, cleansing and integration at all levels of the organisation and as data arrives rather than just retrospectively. DQM takes a building block approach where our users can implement data quality and matching and achieve continuous data improvement. We currently have DQM in beta at 6 POCs in London, New York and Toronto covering a wide range of financial services.”