Solution builds on success of PaSS managed services to deliver use-case focused, managed data acquisition, storage and distribution.
London, UK – Alveo, a leading provider of proven, high-performance solutions for financial data management, has launched PaSSPort, a new managed data service solution for financial services firms. Based on Alveo’s comprehensive PaSS solution, PaSSPort is targeted at businesses that need managed services and that are looking for a simpler, lower-cost approach, based on specific use cases.
PaSSPort is a cloud-based data repository with one or more maintained interfaces to data vendors, an industry standard data model, management of request lists to optimize data sourcing and distribution to downstream consuming applications. Onboarding to PaSSPort simply requires firms to specify their data sources (e.g. OTCISIN codes from the Derivatives Service Bureau (DSB), legal entity identifiers (LEIs), and enterprise providers such as Bloomberg, ICE Data Services or Refinitiv, the level of data mastering and cross-referencing or mapping, and their consuming systems, i.e. the formats they require the data in.
“Our PaSS solution has been in great demand since we launched it last year,” said Mark Hepsworth, CEO, Alveo. “Firms face an escalating list of new data management requirements, driven by regulatory change and business needs.
“PaSS enables them to reduce the impact of this change while streamlining their operations and optimizing data costs by reducing duplicate requests,” added Hepsworth. “PaSSPort provides similar benefits for clients who want to work on a use case or project basis and can be used for infrastructure augmentation rather than replacement”.
PaSSPort also includes a REST API and web interface for browsing and self-service data discovery as well as a dashboard on the data sourcing and supply process, so users can always answer the ‘where is my data’ question.
“The key is agility” added Hepsworth. “PaSSPort can be onboarded quickly by clients. It optimizes data sourcing, transparently shows the status of data preparation and integrates with business workflows”.
PaSSPort is available direct via Alveo and will also be available through the marketplaces of the main cloud providers. Clients pay on a monthly or annual basis with a 3-month minimal commitment. For more information, please visit https://www.alveotech.com/solutions/passport/
Alveo is the market leader in data quality software solutions for financial data. Focused on business user enablement, we help clients simplify complexity and ensure users across buy and sell side make the most of their data assets by providing easy data integration, data cleansing, distribution and data discovery solutions.
We service a blue-chip client base globally and our award-winning solutions provide rigorous processes to secure high-quality data, easy integration into business user workflows and a trusted environment for advanced analytics. Delivered through managed services, cloud or on-premise deployment, our highly scalable products help the world’s most successful financial institutions meet their risk management, valuation, security master and operational needs with mission critical reliability.