GoldenSource taps Russian data management market through local partnership

GoldenSource, a supplier of enterprise data management solutions for the securities and investment industry, has entered the Russian market through a partnership with local software provider Neoflex.

Neoflex is the leading supplier of software and professional IT services to financial institutions in Russia, and as such offers direct access to the local market.

The main focus for Neoflex is the development of complex IT landscapes for financial institutions. It develops and implements software solutions to automate business processes using its own software products and products of the world’s leading vendors.

It works with providers such as IBM, Informatica, Microsoft, Oracle and SAP, as well as partnering with suppliers of specialist financial software, such as FICO and GoldenSource.

Massimo Broggi, regional director of client operations at GoldenSource, said the firm is keen to “penetrate the market for enterprise data management across the CIS region,” which in his words has “great potential for growth.”

As part of the partnership, Neoflex Capital Markets Practice has established a Competence Centre focused on the implementation of GoldenSource software to ensure successful execution across financial institutions in Russia.

Through the partnership, the two firms provide a complete spectrum of services, including configuration and customization of GoldenSource software, full integration of solution into the client’s IT landscape, as well as support and localization services.

Oleg Baranov, managing partner of Neoflex, said: “Partnering with GoldenSource gives us an opportunity to expand the line of industrial platforms available to Neoflex customers. The GoldenSource EDM platform is a leader in its class.

“With some of the world’s most sophisticated banks successfully deploying the solution, I am convinced that GoldenSource EDM will assume the same leading position for enterprise data management in the Russian market.”

GoldenSource and Neoflex launched their first joint project earlier this year, which aims to provide a single source of security descriptive data and market data for one of Russia’s largest banks.

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