Author: John Rolo, Liqueo Senior Data Consultant

We live in a world where data is consumed every second of every day. Naturally, companies are looking to harness this data, not only to gain a better understanding of their existing clients – but also to further their service offering. We often hear the terms “data” and “data governance”. We may see these terms in the emails we receive from third-party companies, or on websites we browse from our Mobile, Tablet or PC.

The current climate

In the current climate, with data at the forefront of many conversations, most companies need to make us aware of how our data and information will be used. By clicking the ever-present “Accept all cookies” button, we are essentially permitting these companies to use our information, without them having to worry about the legal repercussions.
What we are seeing is that, regardless of the industry, data management forms part of the daily process for all companies. Why? Because their end clients want to use that data – be it for Reporting, Analytics or the need for AI.

In the past, clients looked to implement internally built data warehouses or data management systems. This meant they spent unnecessary time and costs on these internal builds, dealing with various systems and their data complexities. A well-designed, robust data management and optimisation platform can significantly accelerate build processes for internal initiatives whilst decreasing costs. Such systems solve this issue for customers by providing an out-of-the-box, real-time data preparation solution to accelerate internal development efforts. It does not compete with these internal efforts: it enhances them.

The Portfolio Management and Transfer Agency space

In the Portfolio Management and Transfer Agency space, where companies are managing actual client data on an individual and company basis, regulatory changes present new challenges. Companies must consider how they are allowed or able to use data and which processes must be in place to adhere to these changes. Some of these challenges come from our clients managing live data daily – whether via Politically Exposed Person (PEP) Lists or Know Your Customer (KYC) documentation. Enhanced data automation and optimisation capabilities have freed up fund managers and transfer agents to focus more on cultivating long-term client loyalty.

When engaging with our clients (who include the largest providers of banking, fund and asset management as well as digital software) they often ask how we can help them with data management in the project phase. This can mean real-time data, multi-source data streaming, or at a more granular level, data integration, data preparation and optimisation. In addition, they need to be adept at understanding the ever-changing landscape of regulatory updates – and implement those changes, without the need for complex builds.

Now, more than ever, we must find better ways to arm our clients with the ability to collate and analyse high-quality, relevant data that leads to better asset and operations management. This data can also help drive an informed approach to identify inefficiencies, as well as create opportunities to set performance standards and accurately measure success.

During engagements where clients are looking to replace legacy software or conduct a system migration, we must ensure efficient planning of such programmes and projects. Early discussions with a focus on data preparation and integration lead to better data migrations. From the outset, we identify key sources of incoming data – given that most systems need to interface with multiple up and downstream systems. With the correct steps in place, clients found a greatly reduced need for manual involvement, allowing their staff to focus on more value-added tasks.

Liqueo’s current processes

Liqueo has vast experience running small and large-scale data migration and integration projects. With the correct processes and teams in place, the migration process can be re-run multiple times to support iterative testing and minimise risk during the live migration. Data can be loaded early in the project lifecycle to support analysis, UAT, reporting, and more.
We can manage the full project phase and develop a migration strategy with the client. A Liqueo migration consultant will support data sourcing exercises and define data mappings, allowing an iterative development approach of the migration run-book.

Having Liqueo consultants engaged from the outset of a project not only gives our clients access to our large pool of talent but also allows them to benefit from our in-depth knowledge of the industry, across our various practices.

This is one of the many ways we help our clients do what they do best: meeting their internal obligations and those of their external clients.

About Us

Here at Liqueo, we provide organisations with the skills to implement programmes successfully through our flexible workforce model, tailoring solutions for our clients’ strategic goals. We deliver an exceptional, bespoke service to every client via a dynamic and agile framework. If you are interested in how we can help you implement successful programmes or want more information about Digital Migration, contact us.