FiNETIK – Asia and Latin America – Market News Network

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Business Entity Identifiers White Paper – The Crucial Foundation for Accurate Risk Management »

Download: Business Entity Identifiers- March 2009 White Paper A-TeamGroup

There is an immediate and pressing requirement from financial institutions for a usable global enumeration standard for business entity identifiers. Getting risk management houses in order is a clear driver, but this also comes against the backdrop of the anticipated onslaught of new regulations that financial institutions will have to contend with, along with the ongoing need to improve operational efficiencies, reduce errors, and reduce costs.

So while industry bodies continue the lengthy process of agreeing on a standard format to bring to market, is there an immediate step that financial institutions can take to fill this void? We believe there is, and it is a step that a number of fund managers and investment banks are already piloting.

Source: A-TEAM Group,  27.02.2009

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