Baton Systems announced the launch of Integration Manager, a low-code solution designed to tackle longstanding challenges associated with data silos and outdated legacy systems by enabling financial institutions to consolidate fragmented and inconsistent data quickly and efficiently.
The launch of the Integration Manager comes at a time when regulators, including the Bank of England’s Prudential Regulatory Authority (PRA) and the European Central Bank (ECB) intensify their focus on data aggregation and intraday liquidity risk.
With Baton’s Integration Manager, financial institutions can reduce data integration timelines from several days to hours. The tool enables banks to aggregate and standardize internal and third-party data streams, ensuring structured and traceable data flows across systems that the bank can use to fuel automated workflows in multiple business lines.
By improving data accuracy and availability, multiple business units across financial institutions can leverage the consolidated data produced by Baton’s Integration Manager to generate real-time insights. This enables more informed decision-making, supports holistic risk management, boosts operational efficiencies, and improves intraday liquidity management when used with Baton’s recently enhanced Balance Manager.
Bank data sources often refresh at different intervals, and many rely on once-a-day batch-based processes to aggregate this information. This can result in the generation of business-specific insights based on inconsistent and outdated information, leading to suboptimal risk and liquidity management decisions, inefficient overdraft use, missed interest opportunities, and poor resource allocation.
“Many banks face significant challenges with siloed systems and fragmented data, creating blind spots that elevate risk,” said Arjun Jayaram, founder and CEO of Baton Systems, in a statement. “With markets demanding real-time risk and liquidity management, legacy systems and siloed data are holding banks back. Our Integration Manager empowers banks to implement the capabilities they need to overcome these challenges faster – eradicating time-consuming, costly, and error-prone data integration processes and providing risk, business, and treasury teams with the high-quality, reliable data needed for confident decision-making and increased control.”