IDEAS home Printed from https://ideas.repec.org/a/aza/jpss00/y2015v9i1p47-58.html
   My bibliography  Save this article

Towards advanced reference data management at transaction banks: Creating a centralised view

Author

Listed:
  • De Meijer, Carlo R. W.

    (Owner, De Meijer Financial Services Advisory)

  • Hall, Susan
  • Simeonidou, Sofia

Abstract

The role of reference data and its management is gaining greater significance within transaction banks. Transaction banking is under growing pressure to improve reference data management processes and to manage (operational) risk more effectively. Triggered by regulators requiring greater transparency and accountability, increased trading volumes, and customers demanding greater efficiency and accuracy, banks are now increasingly looking to upgrade their existing reference data systems. Some have already initiated major projects to centralise various reference databases or are thinking of outsourcing, for instance by going into the cloud. This paper investigates how banks nowadays use and manage reference data. It tackles issues such as the importance of good reference data management and the various business drivers. But it also addresses the constraints that prevent banks from delivering accurate information in a timely manner. The main questions this paper explores are: What should the future reference management system look like? What are the challenges to overcome and the benefits to be realised?

Suggested Citation

  • De Meijer, Carlo R. W. & Hall, Susan & Simeonidou, Sofia, 2015. "Towards advanced reference data management at transaction banks: Creating a centralised view," Journal of Payments Strategy & Systems, Henry Stewart Publications, vol. 9(1), pages 47-58, March.
    • Handle: RePEc:aza:jpss00:y:2015:v:9:i:1:p:47-58
    as

    Download full text from publisher

    File URL: https://hstalks.com/article/4444/download/
    Download Restriction: Requires a paid subscription for full access.
    File URL: https://hstalks.com/article/4444/
    Download Restriction: Requires a paid subscription for full access.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Keywords

    reference data; on-boarding; know your customer; FATCA; golden source; Legal Entity Identifier; service-level agreement;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:aza:jpss00:y:2015:v:9:i:1:p:47-58. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Henry Stewart Talks (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.