AxiomSL’s platform consolidates data from modern and legacy systems by enriching data taxonomies and metadata across the organization. As data is integrated, traceability of the enriched data and workflows is transparent since AxiomSL retains the identity of each source, thus allowing full visibility on ongoing changes and their impacts.
Data lineage is quickly becoming a topline concern and challenge for data managers in financial services. In the past, data lineage—generation of a trail of information that tracks the use and custody of data as it travels throughout the enterprise—was primarily a concern for niche internal projects, usually run by reporting teams. A combination of closer oversight by prudential regulators and rising global standards around data governance, itself, has rapidly led many financial institutions to become more interested in how to do this on a broader level.
AxiomSL’s solution is designed to meet key requirements at once: technical flexibility combined with tailored outputs and visualization. In fact, AxiomSL’s lineage tool brings business and technology users together and provides the answers to the following questions:
- Which data sources are used in the generation of a report or reporting line?
- What data transformations and business logic is applied to populate a reporting line/cell?
- Can I perform search to see where in the code a data attribute is used example a general ledger account?
- Can I export data lineage information in a readable and printable format to share with team members, keep track of business logic updates between different reporting cycles and for audit?
- Can I get the list of all different reports that utilize a data source?
- What will be the impact of updating or decommissioning a data attribute?
What makes AxiomSL’s solution unique is the understanding that data lineage metadata must be available, portable, and presented in user-specific ways. Part of the strength in this area is that, unlike many alternative choices that are just beginning to ramp up data lineage now, AxiomSL has emphasized this area for a long time. As a result, the solution is the most flexible and configurable available with numerous benefits.
- Data-lineage tool captures and documents data flows and business logic from the point of data entry to the final report
- Empowers the “business user” to make critical decisions with trust and confidence in information
- Enhances collaboration across all business functions and IT
- Reduces cycles spent across teams validating data accuracy
- Understand quickly where information originates and Improve data governance
- Become BCBS 239 compliant quickly and cost effectively without disrupting firms’ existing infrastructure
Additional advantages of AxiomSL’s platform include:
Data integration: AxiomSL’s platform allows firms to achieve data integration without that risk of disruption or sunken cost.
Workflow Automation: Leveraging AxiomSL’s data governance platform allows banks to build the level of sophistication for today’s requirements and future needs.
Change Management Tracking: BCBS 239 is very strong on documenting change, from cell-level adjustments to SQL edits. AxiomSL’s platform automatically populates and archives these respective changes as they happen.
Validation and Exceptions: Firms partnering with AxiomSL can build business-level and validation rules using the platform to enable drill-down and traceability into risk data subsets and associated metadata, while also flagging and documenting potential exceptions for review.
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