Artificial intelligence data cloud business Snowflake has partnered with cloud data management solutions provider GoldenSource to launch a data integration app for institutional investors.
Rinesh Patel
Named GoldenSource Omni, the solution works by combining operational and analytical investment data into a unified data model.
The native application is specifically focused on streamlining financial reference data integration and works by accelerating the process of onboarding financial reference data into the GoldenSource data model which in turn supports analytics and reporting on Snowflake’s Data Cloud offering.
Rinesh Patel, global head of industry, financial services at Snowflake, said: “Together, Snowflake and GoldenSource are enhancing the value offered to firms operating in the financial services sector. GoldenSource is an ideal partner for us with their deep market experience and unique data model that links data across domains, providing a more efficient way for joint customers to run analytics, derive insights and train AI models within the Snowflake platform.”
GoldenSource Omni allows investment managers to effectively analyse portfolio holdings and exposures as well as more easily accessing specific attributes of a portfolio and automate attribution reporting.
Jeremy Katzeff, head of buy-side solutions at GoldenSource, explained that this move comes as historically buy-side participants have struggled with the management of disparate datasets, exacerbated by the lack of a comprehensive data model.
“With the launch of GoldenSource Omni, datasets for different asset classes and functions can now be integrated and analyzed within a modern cloud-native environment in one place. Now, firms can replace outdated legacy systems with centralized, cloud-based enterprise data management that is far more efficient and cost effective enabling them to meet the challenges of today.”