As part of this significant and continued momentum, Siperian also announced it has formed strategic partnerships with Avox, Capco, and BusinessEdge. Together with its partners, Siperian continues to provide financial services and insurance firms with a proven master data management platform to improve the customer experience, better understand risk exposure, create efficiencies in trade automation, and comply with federal regulations.

In recent customer ROI studies, financial services firms have confirmed significant business value from deploying Siperian's master data management platform for client and counterparty data integration. As a result of accessing client-centric views, one customer experienced a 50 percent improvement in financial advisor productivity, and a 70 percent reduction in the time it takes to open new accounts. When addressing strategic initiatives related to Basel II compliance and credit risk management, another customer reported a $5M reduction in data management workflow costs and was able to deploy a counterparty and credit risk solution in only five months time. Another Siperian customer uses the company's MDM platform to improve trade automation, and reported a 30 percent improvement in trade execution, freeing up hundreds of millions of dollars in operational capital.

"One strategic goal of financial services firms is to increase revenue for their many lines of business, and data is at the root of solving this challenge," said Robert Hegarty, Managing Director and Practices Leader, Securities & Investments and Insurance at TowerGroup. "Data integration tends to be a secondary issue that does not always get the attention it requires. This is where a truly flexible master data management platform can help - by creating a firm-wide view of client and counterparty reference data with indexes to all the associated accounts within product and trading systems, operational improvements such as improved customer on-boarding or more timely and accurate analytics such as a client's global profitability can typically be delivered in just 4 or 5 months."

Siperian also established new partnerships with data provider Avox and solution provider Capco. Working in concert with these industry partners, Siperian continues to develop a superior network of vendors that build solutions on top of Siperian MDM Hub. In addition, Siperian recently announced a new partnership with leading system integrator, BusinessEdge which provides strategic business and architectural consulting services that enable financial services firms to take full advantage of their data integration efforts.

"There are numerous enterprise wide deployments out there but they take a significant amount of time to implement and even longer to show any measurable ROI," said Tony Spensieri, VP of Financial Services at Siperian. "We advise our customers to embark on a short term project in order to demonstrate significant ROI and then expand the initiative to other areas of the organization over time to create the single, enterprise wide standard. Our client and counterparty reference data platform, combined with the industry specific expertise of our partners, is designed to be implemented quickly, demonstrate fast returns and establish credibility throughout the organization."