Innovation Update | July 2024 Edition

The latest developments from our software engineers

By Swati Tyagi, Chief Product Officer, GoldenSource

Welcome to the July edition of my Innovation Update, the very first of a new series of quarterly reports about what’s happening at GoldenSource. My goal is to give you a quick ‘behind the scenes’ glimpse at GoldenSource and share some of the innovative work our software engineers are doing.

?Everything we develop is based on the belief that data is foundational to business performance, success, and, ultimately, survival. But today, with more and more sources of data becoming available, the big challenges are how do you make the data truly usable and – more important – how do you trust it?

?GoldenSource has a long history of being a market leader at developing robust, reliable financial services data management solutions. But what we’ve not always been so good at, frankly, is sharing our successes and our perspective on technology with our audience. I hope to change that here, by showing the many ways GoldenSource continues to innovate.

?With that, here’s what’s happening at GoldenSource now:

1.??? We’re improving data quality with AI.

We’re continually strengthening GoldenSource’s core capabilities, and we’ve been experimenting specifically with AI to produce more effective ways of garnering deeper insights from data. We’ve now developed, in partnership with AWS, our own data analysis assistant that works in conjunction with a Large Language Model (LLM) to enable advanced data analysis. ?

We’re planning to launch these new features in our Spring release and will be excited to share details about how to participate in a pilot program at our NAVIGATE’24 client events in London and New York City this September and October.

2.??? We’re enhancing user experience with our advanced data lineage and traceability

Data operations teams have long grappled with the complexities of data auditing and traceability. The challenge stems from the intricate web of data sources originating from diverse vendors processed through various algorithms and mapped to an array of fields in their enterprise systems. This complexity makes it arduous to pinpoint the exact origin of data and determine its optimal application. GoldenSource offers a variety of features to address these issues. Our team is now adding an even better user experience to these features focusing on the following:

·????? Tracing data provenance with greater accuracy for all data types

·????? Identifying anomalies more efficiently

·????? Improving the user experience for data origin tracing

By implementing these tools, we aim to bring clarity and confidence to our customers' data management processes, ensuring they can leverage their data assets to the fullest potential.

3.??? We’re working on UI and performance upgrades

Our team is always looking for ways to make our products more user-friendly and adaptable to the way people actually work. We’re currently testing and refining aspects of a brand-new user interface that will further enhance the user experience.

Early next year, we’ll be releasing these user interface updates in addition to a number of performance upgrades for a faster front-to-back experience with GoldenSource platform

4.??? We’re building out-of-the-box solutions so our customers are able to extract value from our platforms faster!

Our product managers make a point of working through the implementation of our solutions from the very outset of a customer engagement. Starting, in fact, at the RFP stage, we initiate and maintain an ongoing dialogue with our clients to share any established best practices. In turn, our clients share their learnings with us, much of which we have productized across our solutions.

As a result of this product development approach, we’ve reduced the time-to-value significantly for our clients by providing those learnings and configurations right out of the box.

?Client and Partner feedback is a key input into our product strategy and roadmap. We are excited to grow our client community and provide opportunities for them to collaborate and share best practices.

5.??? We’re busting the myth that our tech is old legacy

The fact is, our product team is innovating all the time, and are absolutely committed to continuous modernization of our solutions. The work we’re doing with incorporating AI and ML and the launch of new apps on Snowflake’s AI Data Cloud are just two examples. Additionally, the GoldenSource platform leverages AWS cloud services with multi-cloud support as well as Terraform and Helm for Infrastructure provisioning, deployment and maintenance. Our ability to scale from small hedge funds to the largest enterprise global banks speaks to just how robust and resilient our solutions actually are.

New players in the financial services data management space like to say they’re on the cutting edge, but what really matters is the technology that serves the use cases our clients need to run their operations with trust and confidence.

GoldenSource offers a robust foundation with extensible features and integrated frameworks. ?As a result, organizations can confidently build data-driven strategies that drive innovation, improve decision-making, and maintain a competitive edge in today's data-centric business landscape.

That’s it for this month. I welcome any comments or questions you may have. Please feel free to contact me any time.