Alveo to Support Tech Mahindra’s Financial Data Model as a Service

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Tech Mahindra, a leading provider of digital transformation, consulting and business re-engineering services, has selected Alveo, a leader in market data integration and analytics solutions for financial services, as the technology for basis of an integrated proposition of financial data as a service for the financial services industry. .

Tech Mahindra Launches FiDaaS Solution Powered by Alveo to Address Financial Services Data Management Challenges
The highly scalable solution will help financial institutions meet their risk management, rating, security and operational needs.
Europe – December 8, 2021:
The FiDaaS solution provides a centralized cloud-based market data platform that offers a complete solution for pricing and reference data management and covers end-to-end financial data management requirements. The solution covers data acquisition, data mastery, data quality management, data discovery and distribution.

The Tech Mahindra FiDaaS solution will be offered in partnership with Alveo, as the underlying technology, and will include:
• Master data management solutions for security setup and post-trade processing as well as ESG data management
• Market data management solutions for portfolio valuation (e.g. NAV and LPI), sensitivity measurements, and index and ETF data management
• Risk data management solutions for risk factor data, back testing, scenario analysis and stress testing

Financial services firms must manage increasing volumes, additional data sources and must provide their business users and applications with quality verified and validated information for risk, valuation, operations, trade activation, finance and advanced analytics. In this regard, FiDaaS will improve operational efficiency by streamlining data management, control and tracking to improve governance and verification of regulatory reporting.

The Tech Mahindra “Powered by Alveo” partnership brings together two global specialists with the complementary capabilities needed to achieve transformative results with a vision and a commitment to co-innovate.

Vivek Agarwal, President – BFSI, HLS and Corporate Development, Tech Mahindra, said, “The value and reliability of instrument data that financial institutions have access to has a significant impact on their reputation and regulatory oversight. The inaccuracy and unavailability of this data increases the risks and leads to significant financial losses. A sophisticated data management platform is essential to ensure data quality, data lineage, data cost monitoring, automation and self-services for global enterprises. Our partnership with Alveo is a step in this direction. Through this collaboration, we aim to help financial services clients achieve the goals of better quality data at the right cost while gaining the best analytical capabilities from the historical financial data repository. We look forward to working with Alveo and driving financial services customers to the Data-as-a-Service model. »

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