Solution builds on success of AC PaSS managed services to deliver use-case focused, managed data acquisition, storage and distribution.
Asset Control, 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 Asset Control’s comprehensive AC 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 AC PaSS solution has been in great demand since we launched it last year,” said Mark Hepsworth, CEO, Asset Control. “Firms face an escalating list of new data management requirements, driven by regulatory change and business needs.
“AC 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 Asset Control 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.asset-control.com/solutions/passport/