The new data modelling solutions allow clients to efficiently add and manage new data sources in Alveo’s Ops360 user interface.
The new move comes as financial services firms have to onboard and operationalise new content faster and cheaper in areas like pricing, security, ESG, indexes, and corporate actions.
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Alveo’s Ops360 capabilities are powered by the company’s underlying Business Domain Model Service.
Neil Sandle, head of Product Management at Alveo, said: “The new data modelling capabilities enable end users to more rapidly onboard and more easily maintain integration with data sets. This slashes the time to production and the cost of maintenance.
“Most changes in data vendor offerings come down to additional attributes, and these can be easily handled by data analysts without the need for a data processing engineer”, Sandle continued. “New loaders and new versions of data loaders only require loading the metadata changes.”
In recent years and amid pressure to update tech stacks, banks and payment services have streamlined their digital onboarding processes to cope with the rising number of banked clients.
In May 2023, Visa partnered with Prove to make customer onboarding 79% faster by giving its clients access to Prove’s Pre-Fill identity verification solution. More recently, Banco Galicia streamlined its digital onboarding process with an AI platform built on Red Hat Technologies.
Alveo provides market data integration and analytics solutions for financial institutions.
