In this fourth edition of the FINOS Open Source in Fintech Podcast, FINOS Director of Community James McLeod interviews EPAM's VP & Head of Digital Engagement Practice for Wealth and Asset Management, Heiko Sundermann after his FINOS Virtual Meetup presentation on April 29, 2020. Head to the FINOS.org site to see the video of the presentation, along with Heiko's slides.

Guest speaker: Heiko Sundermann, VP, Head of Digital Engagement Practice for wealth and asset management for EPAM, will be presenting on the "EPAM GLUE Project: Developing a Unified Entity and Data Model for the Buy-Side".

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.

The FINOS Open Source in Fintech Podcast celebrates open source projects and interesting topics at the cross section of financial services and open source. So far, our industry experts have discussed practical applications of and their real-world experiences with a range of open source projects including desktop interoperability, low code platforms, synthetic data, and data modeling. They’ve also discussed best practices for inner source, common myths about open source and why commercial companies choose to introduce open source offerings. Tune in to hear what comes next.

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