Data quality essential for Basel II compliance
LONDON - High-quality counterparty data is increasingly essential for firms wishing to comply with Basel II. If firms have poor data on clients, it could mean major losses due to missed opportunities.
But dealing with counterparty data remains complex. The good news is that increased spending on enterprise data management (EDM) initiatives has benefited counterparty data projects. Not all firms, however, have taken a similar approach. London-based Steve Tuck, chief strategy officer at data integration and data quality software provider Datanomic, says some firms have focused on dealing with EDM
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