{"id":4758,"date":"2013-02-07T08:25:44","date_gmt":"2013-02-07T08:25:44","guid":{"rendered":"https:\/\/www.bloomberg.com\/company\/press\/bloomberg-polarlake-unveils-its-managed-service-for-edm\/"},"modified":"2013-02-07T08:25:44","modified_gmt":"2013-02-07T08:25:44","slug":"bloomberg-polarlake-unveils-its-managed-service-for-edm","status":"publish","type":"press","link":"https:\/\/www.bloomberg.com\/company\/press\/bloomberg-polarlake-unveils-its-managed-service-for-edm\/","title":{"rendered":"Bloomberg PolarLake Unveils its Managed Service for EDM"},"content":{"rendered":"
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DUBLIN & NEW YORK — Today, Bloomberg PolarLake announced that
\nits managed service model for enterprise data management (EDM)
\nis available and currently deployed for Swedbank<\/a>, Sweden\u2019s
\nlargest bank by number of customers. <\/p>\n

\u201cOur managed service model for EDM is now live for Swedbank
\nand ready for prime-time,\u201d said John Randles, Bloomberg
\nPolarLake\u2019s Chief Executive Officer. \u201cBloomberg PolarLake
\ndecided to bring its EDM model to market because demand is
\nescalating for a comprehensive service that reduces
\noperational costs and standardizes data processing for global
\nfinancial firms.\u201d <\/p>\n

Bloomberg PolarLake\u2019s EDM service acquires, manages and
\ndistributes large volumes of financial data so it can be
\ndistributed to mission critical risk, trading, and regulatory
\nreporting systems. Bloomberg PolarLake defined a unique
\nmanaged service model for EDM, which helps global firms manage
\nenterprise data processing and administration without
\nincurring the cost of hardware maintenance and software
\nupgrades. <\/p>\n

Torbj\u00f6rn Ericsson, Chief Operating Officer of Swedbank\u2019s Large
\nCorporates and Institutions Division, said, \u201cSwedbank prides
\nitself on its customer focus, providing quality services and
\nmanaging risk exposure across an efficiently run organization.
\nWe selected Bloomberg PolarLake\u2019s EDM managed service because
\nit enables us to avoid redundant data costs and channel
\nresources toward client needs, as well as managing operational
\nrisk and regulatory requirements.\u201d <\/p>\n

At Bloomberg PolarLake\u2019s EDM Centre of Excellence in Dublin,
\ndata for 22 asset classes is aggregated from multiple data
\nsources, including proprietary client systems, Bloomberg and
\nthird-party data vendors. Swedbank\u2019s defined business rules
\nand local data formats are applied to its master data feed
\n(Security Master) at the Centre of Excellence before the data
\nis distributed to Swedbank\u2019s internal systems. <\/p>\n

SIX Financial Information is among the first data providers to
\nparticipate in Bloomberg PolarLake\u2019s managed EDM. \u201cWe are
\ndelighted to be one of the first service providers to
\nparticipate in Bloomberg PolarLake\u2019s innovative managed EDM
\nmodel for global financial firms,\u201d said Fritz Hediger, Head of
\nGlobal Sales for SIX. \u201cThe Bloomberg PolarLake solution
\ndelivers significant advantages in terms of on-boarding new
\ndata and managing that data in an intelligent way. This
\nenhances the structure and linkage of our data services for
\nsecurity master, regulatory compliance, corporate actions and
\nmore. By alleviating the overhead and complexity of data
\nmanagement, the managed service model allows customers to
\nfocus on adding value to their own services.\u201d <\/p>\n

Bloomberg PolarLake operates as an independent subsidiary and
\nit maintains separate facilities and operations staff at its
\nCentre of Excellence facility so it can provide the highest
\nlevels of security, privacy and permissioning for the data it
\nreceives. <\/p>\n

For more information about Bloomberg PolarLake\u2019s managed
\nservice for EDM, please visit: www.polarlake.com<\/a> <\/p>\n

About Bloomberg PolarLake <\/h2>\n

Bloomberg PolarLake, the global EDM managed service provider,
\ndelivers a robust, customizable, open and inclusive managed
\ndata service, which centrally acquires, manages and
\ndistributes complex and wide-ranging financial data sets with
\nspeed, agility and control. Worldwide, financial firms benefit
\nfrom the Bloomberg PolarLake managed service through reduced
\ncosts and increased data quality achieved by eliminating the
\nneed to build home-grown solutions and avoiding the non-stop
\nmaintenance and upgrade cycle of in-house implementations. <\/p>\n

About Bloomberg <\/h2>\n

Bloomberg, the global business and financial information and
\nnews leader, gives influential decision makers a critical edge
\nby connecting them to a dynamic network of information, people
\nand ideas. The company\u2019s strength – delivering data, news and
\nanalytics through innovative technology, quickly and
\naccurately – is at the core of the Bloomberg Professional
\nservice, which provides real time financial information to
\nmore than 310,000 subscribers globally. Bloomberg\u2019s enterprise
\nsolutions build on the company\u2019s core strength, leveraging
\ntechnology to allow customers to access, integrate, distribute
\nand manage data and information across organizations more
\nefficiently and effectively. The Bloomberg Professional
\nservice is owned and distributed by Bloomberg Finance L.P. <\/p>\n

Media Contacts <\/h2>\n

US – Vera Newhouse, vnewhouse@bloomberg.net<\/a>, +1-212-617-6420 <\/p>\n

EMEA – Natalie Harland, nharland1@bloomberg.net<\/a>, +44-20-3525-8820 <\/p>\n

APAC – Belina Tan, belina.tan@bloomberg.net<\/a>, +65-6231-3637\n <\/p>\n<\/p>\n<\/div>\n\n<\/div>\n\n\n<\/div>\n\n\n\t\t\n\t<\/div>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"

Swedbank leads industry with adoption of a next generation EDM
\nmodel <\/p>\n","protected":false},"featured_media":0,"template":"","format":"standard","categories":[17],"press_tag":[],"class_list":["post-4758","press","type-press","status-publish","format-standard","hentry","category-press-announcement"],"yoast_head":"\nBloomberg PolarLake Unveils its Managed Service for EDM | Press | Bloomberg LP<\/title>\n<meta name=\"description\" content=\"Swedbank leads industry with adoption of a next generation EDM model\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bloomberg.com\/company\/press\/bloomberg-polarlake-unveils-its-managed-service-for-edm\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bloomberg PolarLake Unveils its Managed Service for EDM | Press | Bloomberg LP\" \/>\n<meta property=\"og:description\" content=\"Swedbank 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