Accenture, using Asset Control’s software, helped Crédit Agricole CIB enhance the quality of its reference information, secure greater returns from its data operations and ensure compliance with regulatory initiatives.
As a result, Crédit Agricole CIB has been able to simplify its overall information system and lower its implementation costs. The solution helps ensure the bank’s data is accurate and secure, resulting in more precise profit-and-loss information and improved financial risk management.
As a result of a merger, Crédit Agricole CIB was coping with a large number of disparate and duplicate data feeds and legacy applications within the bank’s counterparty and market data systems. The systems were cost intensive and difficult to manage, with discrepancies in data for the same instruments across business lines creating compliance and valuation issues. To overcome these data management issues, Crédit Agricole CIB sought to:
Simplify the overall technical architecture for its data management system.
Reduce application maintenance by double digits.
Decrease costs of personnel working with market data by double digits.
Create a single market-data repository capable of centralizing data globally across all departments to ensure clean data for critical business applications.