NEW YORK â April 27, 2005 â GoldenSource Corporation, a global software provider of Enterprise Data Management (EDM) solutions to the securities and financial services industry, today announced that Aozora Bank, Ltd, a leading Japanese financial services institution offering trust and banking services, has licensed the GoldenSource Enterprise suite in support of its banking operations.
Aozora has begun an ambitious program to radically improve its technology and processing infrastructure to support significant increases in processing volumes while reducing associated processing costs. Aozoraâs strong management team is seeking a âsingle source of truthâ from a Golden Copy of customer, counterparty, and securities data for all processing applications. In their selection of GoldenSource as the foundation for powering Aozoraâs data repositories, the Bankâs executives give recognition to the value that GoldenSourceâs Enterprise suite of applications will bring to Aozora. It is the ideal platform to provide this integrated source of truth, while eliminating costly duplicate data maintenance and providing consistent information to all processing applications across the organization as needed.
Aozoraâs Technology Division licensed the full GoldenSource Enterprise Data Management suite, GoldenSource Accounting and GoldenSource Actions. Aozora is implementing the GoldenSource solution to build the enterprise data foundation to power data management and operational systems. Aozora will use this foundation to establish a robust infrastructure in support of leading edge risk management and analytics.
Aozoraâs strategy is to build on an integrated application suite that can deliver fully operational transaction processing, from deposits through derivatives, based on centralized data repositories known as âsources of truthâ, said Bill Chute, Chief Technology Officer, Aozora Bank Ltd. "Aozora requires a flexible, scalable data management infrastructure that will allow us to accelerate our revitalization program. "GoldenSource Enterprise" enables Aozora to access, transform and integrate large volumes of operational, analytical, indicative and transactional business data for improved asset and risk management, while at the same time reducing costly, time-consuming data maintenance and increasing speed and accuracy of data flow".
"Banks such as Aozora recognize that a well defined data management infrastructure can help them in storing, cleansing, enriching and applying the data needed to comply with the stringent demands of todayâs international banking environment." said Michael Meriton, President and CEO of GoldenSource Corporation. "Aozoraâs decision to use GoldenSource Enterprise Data Management as the âsingle source of truthâ is a welcome endorsement of our vision that a sound data management platform is the pre-requisite to powering all other systems across the enterprise"
GoldenSource transforms a financial institution from multiple disparate master files and incompatible systems into an integrated financial enterprise, without the costly replacement of legacy systems. GoldenSource connects and powers the entire range of transaction and decision systems spanning: front office, client service, risk, regulatory, compliance and back office functions. GoldenSource improves information quality and efficiency and delivers a substantial return on investment by reducing operational costs, as well as supporting strategic risk management and revenue generation initiatives.