Enterprise Data Management Initiative Launched
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NEW YORK--(BUSINESS WIRE)--June 8, 2005-- Industry Vendors and Financial Institutions Team-up to Support and Promote Enterprise Data Management (EDM) as an Industry Initiative for Today's Complex Data Management Challenges IBM, SunGard, and GoldenSource Corporation(TM) today announced the launch of the Enterprise Data Management (EDM) Council. Formed by over 20 C-level executives from corporate and investment banks, asset management companies, securities services firms and industry vendors, the Council is designed to create, enhance and sustain awareness of EDM as an urgent priority for the financial services industry. IBM, SunGard and GoldenSource are the founding sponsors of this strategic initiative, which is expected to attract additional sponsors and members from the vendor and financial services communities. The goal of EDM is to standardize and integrate reference and transaction data that includes the five categories of data central to business processes and information needs in the financial services industry: securities, customers, counterparties, transactions and positions. The Council will promote EDM and related standards as a solution to help meet today's data management challenges while providing assistance on data management issues to its members. Council members are leading figures in the financial services community, bringing knowledge and expertise on the issues. Compliance with regulatory requirements, such as Basel II, Sarbanes-Oxley or Know Your Customer, is reliant on EDM, said Dale Richards, president, enterprise data management, SunGard. "By bringing industry leaders together, the EDM Council can share best practices, and ultimately assist financial services institutions in tackling these compliance challenges." The launch of the EDM Council is in response to the urgency of data management challenges that the industry faces, where EDM is clearly identified as a top priority for financial services institutions, said Michael Meriton, president and CEO, GoldenSource Corporation. "Financial services companies and vendors are collaborating closely to ensure that EDM is recognized as the solution towards overcoming the complexities and risks of disparate data silos." One of the Council's first initiatives is a discussion forum on June 16, 2005, from 8 - 11:30 a.m. at the Westin Hotel, in New York City. The seminar will be hosted by distinguished industry speakers: Dr. Michael Hammer, originator of re-engineering and the process enterprise; Sang Lee, Managing Partner of Aite Group, and Michael Meriton, president and CEO, GoldenSource Corporation. Panel members include: John Bottega, director and global head of product & price reference data at CSFB; Dan Nachtman, principal, Banc of America Securities; Dale Richards, president, enterprise data management, SunGard, Dessa Glaser, managing director business development strategic outsourcing, IBM and Paul Kennedy, vice president product management, GoldenSource. Following the seminar, the EDM Council members will hold their inaugural meeting. Future meetings will be held twice annually, and will be sponsored by Council Members. To register for the seminar go to: www.thegoldensource.com. For more details on the Council please contact: -- SunGard - Marc Odho, SVP, Data Management Solutions at marc.odho@sungard.com; -- IBM - Dessa Glaser, Managing Director Business Development Strategic Outsourcing at dglasser@us.ibm.com; -- GoldenSource - Susan Frederick , VP Marketing, at sfrederick@thegoldensource.com. About GoldenSource GoldenSource Corporation is a global software provider of Enterprise Data Management (EDM) solutions and is a proven software solution in use at leading global financial institutions. GoldenSource standardizes and consolidates a company's data from both disparate market vendors and a multiplicity of silo transaction systems to become the single enterprise data source supplying consistent data to all the institution's transaction and decision systems. GoldenSource's EDM solutions improve information quality and efficiency that deliver a substantial return on investment. GoldenSource and its certified partners provide a wide range of implementation and support services to ensure initial and continued success. GoldenSource is dedicated to the business principles of delivering what is promised ensuring that its customers are its best references. For more information, visit www.thegoldensource.com or email info@thegoldensource.com. About SunGard SunGard is a global leader in integrated software and processing solutions, primarily for financial services and higher education. SunGard also helps information-dependent enterprises of all types to ensure the continuity of their business. SunGard serves more than 25,000 customers in more than 50 countries, including the world's 50 largest financial services companies. SunGard (NYSE:SDS) is a member of the S&P 500 and has annual revenue of $3 billion. Visit SunGard at www.sungard.com. Trademark Information: SunGard and the SunGard logo are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders.
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