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Data management challenges affect a host of concerns- data loss, illegal access, noncompliance with legislation, data breach, data loss, poor risk management decisions, an unregulated environment, and much more. Chief supply chain officers (CSCOs) of banks and corporates across the globe often struggle to translate their supply chain vision into a comprehensive, easily communicated, understandable, and business-aligned transformation roadmap.
Managing data throughout enterprises has become even more cumbersome, with so much data being created or developed during different transactions. Failure to address the dispersed data over different geolocations and tens of business line applications can leave data security and integration at risk of compromise.
ECS Fin advocates that data security and risk management leaders should prepare for ”harvest now and decrypt later” attacks by having an efficiently engineered data capture, storage, and distribution system that addresses the entire range of data exchange between internal applications, external entities, and all interested parties.
Enable the delivery of a trusted version of one or more subject areas to heterogeneous parties, supporting various business initiatives.
Support the linking, synchronization of master data and global identification across heterogeneous data sources.
Manage and create a persistent, central system of record
Support ongoing governance requirements through workflow-based monitoring and corrective-action techniques.
End-user organizations can easily implement it without having to make use of required professionals.
Core to ECS Fin’s Matrix framework is the notion of a “sentient” data management model that describes things as alive, responsive, and conscious. The sentient senses changes and risk events throughout the end-to-end data management model. Not only does it sense fraud signals, but it also shows awareness of unfolding disruptions. They can respond more quickly to transformational conditions with relevant actions across the end-to-end data management chain.
The fundamental concept of this matrix is the amalgamation of conscious capabilities with an end-to-end processing chain view. This combination is represented on the matrix through its two axes:
This is the representation of the end-to-end supply chain, with the left side being “Message Library” and the right side being “Data Repository.”
This is the representation of the conscious capability, with “Data Exchange” at the top and “Data Flow Management” at the bottom.
Integrate with internal applications instantly, facilitating a secured exchange of data.
Create end-to-end data flow from the entry point to delivery.
Real-time data fraud prevention
With flexible transaction workflows, abnormal or suspicious payment messages are detected in real-time.
Receive data from all source systems and external entities in any format or protocol.
Channelize data flow, segregate duties, and engage controls for each message type.