Bloomberg PolarLake recently expanded its Enterprise Data Management (EDM) business to financial services institutions (FSIs) in Asia and Australia.
The company hopes that its new operations in Singapore and Sydney will help FSIs in the region deal with the explosion of data within an increasingly demanding regulatory and reporting environment.
"Bloomberg PolarLake's EDM service helps companies to aggregate, standardise, and make sense of the information that they are receiving -- all in one place," said John Randles, the company's Chief Executive. By doing so, FSIs will gain with greater visibility over their assets and instruments, which will help them better comply with regulations, he added.
Bloomberg PolarLake collaborates with companies across the buy-side, sell-side, retail banking, treasury, superannuation and insurance to develop tailored data management solutions. These solutions can be managed on-site as 'data as a software' or managed by Bloomberg PolarLake, in part or entirely.
According to the company, it has defined a unique managed service model for EDM that helps FSIs manage enterprise data processing and administration without incurring costs of hardware maintenance and software upgrades.
"Integrating a myriad of data into a single platform helps companies to compare information from multiple sources, identify anomalies and glean insights more quickly, efficiently and confidently," said Randles.
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