Eagle Investment Systems is working with Microsoft to create a new cloud-based data management platform for global investment managers.
Eagle, a BNY Mellon company and provider of financial services technology, said it will work with Microsoft Azure to develop a multi-tenant solution. The relationship will build upon Eagle’s secure private cloud, Eagle ACCESS, creating a robust hybrid cloud offering.
The multi-tenant data management platform will help investment managers capture the data needed to manage assets and seek alpha. It will use the Azure cloud platform to provide the ‘resiliency, availability and scale’ needed to quickly adapt to today’s dynamic markets.
“The cloud has already diminished many of the barriers that have traditionally impeded investment managers’ ability to adopt and benefit from breakthrough technologies,” said Mal Cullen, Eagle’s CEO. “This collaboration represents a significant milestone for Eagle as we continue to innovate and develop data management and cloud solutions that meet both the current and future needs of our clients.”
The General Data Protection Regulation (GDPR), which is implemented next month, is a new, EU-wide law that gives greater power to regulators to penalise companies who mishandle personal data or are not transparent about how their business uses it.
For consumers, it brings new powers that require firms to get clear consent from users before processing their data, as well as grants users a right to easily access the data collected from them and transparency on how it is being used. The regulation essentially change how businesses and public sector organisations can handle the information of their customers. However, it not only applies to organisations located within the EU but it will also apply to organisations located outside of the EU if they offer goods or services to, or monitor the behaviour of, EU citizens’ data.
A recent survey found that 93% of respondents are not yet fully compliant. Earlier this year, SAS conducted a global survey of 183 business people in a wide variety of industries who have a role in preparing their organisations for GDPR. The survey, which highlights the biggest challenges and opportunities organisations face on the road to GDPR compliance, found that only 7% businesses are ready for the regulation.
Judson Althoff, executive vice president, worldwide commercial business at Microsoft said, “We are excited to collaborate with Eagle Investment Systems, a BNY Mellon company, to support our mutual customers in the financial services industry. The benefits that Azure provides as an enterprise-grade cloud platform, coupled with Eagle’s expertise in serving global investment managers, will allow companies to more efficiently manage costs and challenges while maximising the value of their data.”
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
