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How a cloud-based platform simplified complex regulatory compliance.
A modern data platform made evolving regulatory requirements faster to put into practice.
reusable solution architecture
improved processing speed
reduction in template implementation
European DataWarehouse (EDW) sits behind a market most people never see. As a centralized data repository, it collects, validates and distributes standardized data on securitized assets, giving investors and other market participants clearer information about what they’re buying. That role puts data at the center of EDW’s business. It needed technology that could handle complex information at scale without slowing the people who depend on it.
Partnering with Publicis Sapient, EDW built a cloud-based platform to process regulatory data faster and give teams a more flexible foundation for serving Europe’s securitization market.
With the introduction of the European Union (EU) Securitisation Regulation (SECR) by the Eureopean Securities and Markets Authority (ESMA), EDW’s business providing transparency to the EU Asset Backed Securities (ABS) market was rendered obsolete. EDW needed to transform quickly.
They required a platform to enable issuers to maintain securitizations and report loan- level data, while supporting the new regulatory and technical standards. Their goal: to become the first securitization repository in the EU under the new regulation.
To achieve these objectives, EDW required a new cloud-based system which would allow the processing of larger data sets and an increased number of validation steps mandated by the new regulation. The platform also needed to be agile enough to adapt to ESMA’s frequently changing regulatory and technical standards.
We listened to EDW’s requirements and utilized a ‘”strangler”’ approach – replacing existing functionalities incrementally to manage risk. Alongside the modernization of core components by leveraging cloud services, we built a new data processing pipeline on Azure to meet ESMA functional and non-functional requirements.
EDW is now able to comply with the latest regulatory and technical requirements, becoming the first securitization repository designated by ESMA. And with 80 percent of the architecture reusable in other jurisdictions, the solution is highly scalable.
With the new platform, EDW won ‘”Securitization Provider of the Year”’ at the Global Capital awards based on market votes. And alongside acquiring new customers, EDW has achieved 100 percent customer retention throughout the project.
With 383 ESMA securitizations already registered with a value of more than €755 billion, we’ve built a future-proof, scalable platform to enable EDW to adapt to a constantly evolving market.
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Despite the complexity of this massive project, Publicis Sapient managed the project to strict deadlines and executed it to the highest quality. I am delighted with the launch of the new platform. The launch is a huge step for EDW to continue to serve the European securitization market.
"— Gopala Sankaran
Chief Technology Officer, European DataWarehouse
Vertika Srivastava
Program Manager/Service Delivery Lead
