In this fourth edition of the FINOS Open Source in Fintech Podcast, FINOS Director of Community James McLeod interviews EPAM VP, Heiko Sundermann after his FINOS Virtual Meetup presentation on April 29, 2020.
FINOS Open Source in Fintech Podcast - EPAM GLUE PROJECT: DEVELOPING A UNIFIED ENTITY AND DATA MODEL FOR THE BUY-SIDE - HEIKO SUNDERMANN, EPAM - 29 April 20
Buy-side firms are under enormous pressure not to miss out on the digitalisation wave. Changing client demands, regulatory pressure and the rapid adoption of structured quantitative investment management approaches are fuelling investment into digitalization and data driven Asset & Wealth Management. Buy-side firms are often held back by legacy infrastructure and inappropriate data storage. Open API architectures provide a route to adopt best of breed solutions and leverage specialized fintech offerings, but the integration costs of these approaches tend to be costly. Traditional Data-Warehousing approaches are also not suited to the performance needed for modern digital and analytical solutions; they struggle to adhere to the stringent regulatory requirements inherent in data-privacy, cross-border and data lineage.
EPAM have created an investment management eco-system delivering a comprehensive set of components along the investment management value chain developed by EPAM or by fintech partners. The foundation of this ECO-System is EPAM GLUE which is a unified entity and data model serving as a common semantic layer to all components. EPAM GLUE provides the flexibility to model hierarchical data structures as well as the complex legal entity structure that buy-side firms are facing. Concurrently it addresses the problems of data-security, auditability and privacy which minimises integration costs and implementation risks.
This session gives a general introduction and dive into the core modelling concept of EPAM GLUE.
Heiko Sundermann is VP Head of Digital Engagement Practice for wealth and asset Management at EPAM. Heiko is a senior technology, transformation, and product manager, with over 18 years of experience developing, communicating and implementing transformational business and IT strategies as well as service innovations, that are aligned with the overall business goals. Prior to EPAM he held senior positions in the wealth management divisions of UBS and Deutsche Bank. Passionate about enabling financial services institutions to be competitive and disruptive in the marketplace through Innovative use of technology whilst helping them to navigate successfully through multiple waves of technology change. Heiko’s philosophy is based on being a pragmatic implementer and strong believer in agile program management.
FINOS VIRTUAL "MEETUPS"
As part of our continued commitment to provide value to our Members and our greater Community, FINOS is expanding our use of virtual meetings and digital communication. While we know this can’t replace our in-person meetups (in New York, London, and Edinburgh), conferences (Open Source Strategy Forum - OSSF - in London and New York), and exclusive FINOS Member Meetings, we think it is a great way for our Community to share their achievements, ideas and even challenges related to open source in financial services.
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