Data sleeps in databases but it comes to life in Assetcloud powered by /db.
Jersey City, NJ (PRWEB) November 06, 2012
VT Enterprise announces the immediate availability of Assetcloud powered by /db, a solution to the growing data access problem in financial industry. As institutions become increasingly information-driven, databases play a crucial role in driving critical business processes. However, organizations often encounter multiple databases in different departments that are hard to access. Assetcloud powered by /db solves this data management problem by instantly turning any group of databases into a “cloud” of online data resources that are easily searchable and accessible by authorized users and applications.
Data is at the heart of financial services firms and banks and hedge funds rely on depositories of market and reference data for risk management, trading, and reporting. Likewise, insurance companies, utilities, and retailers all depend on data stored in multiple databases in different locations. The traditional way to handle this data is to extract subsets of information via individual queries and to then distribute copies of the data to end users as spreadsheets or as dumps to data warehouses. The problem with this approach is that it creates multiple, often inconsistent, copies of the same data. In addition, this approach is resource intensive and these copies often lag behind the “live” data in the main database.
In Assetcloud data remains in its original systems but becomes uniformly accessible from a central location. This empowers analysts to find shared data without difficult coding or queries. At the same time, business application developers realize benefits of this Resource-Oriented Architecture because value-added solutions are more quickly created around references to on-demand data resources and data silos can be avoided. Equally important, Assetcloud powered by /db is ideally suited for information exchange with external counterparties or for data publishing. The immediate benefits are lower costs, the reduction of data errors, and most of all the quick introduction of new services and applications in the cloud.
Central to VT Enterprise’s solution is /db, a simple way to translate any field in one or more databases into a URL link that can be called from almost any source. The technology that this is based on is called RESTful web services or REST API. RESTful technology has been used in Internet-scale applications for some time but development of web services can be costly and complicated. /db automatically turns any combination of SQL databases into a RESTful web service equipped with features similar to NoSQL and graph databases. Accordingly, difficult technical problems such as accessing databases on mobile devices or merging structured and unstructured data together become feasible. Given the great importance of data for financial firms, Assetcloud is a /db solution custom-tailored to meet bank or hedge fund’s specific needs and includes security, support for Microsoft Excel, and integration with trading, risk management, and master data management systems.
“Having worked in the financial industry for over 12 years, market data accessibility has been one of the most stubborn problems that I have encountered.” says Victor Olex, CEO of VT Enterprise. “There was no good solution to cope with the seemingly infinite data feeds. One of our goals is to introduce a solution to this problem that is customizable enough to fit any firm but based on accepted principles and simple programming tools. I am proud that we can now introduce Assetcloud powered by /db.”
Thetica Systems, a leading provider of analytical tools for Structured Finance products, has been using Assetcloud to introduce an online, cloud-based, version of their system. “So far, we have deployed our services to banks, hedge funds, and other financial firms by placing dedicated servers at our client's datacenters to process vast amounts of data as well as our analytics products.”, says Ariel Yankilevich, CEO and Co-Founder of Thetica Systems Inc. “While on-site servers provide a robust and secure solution to our customers, it also increases the costs and set-up time.”. “By using Assetcloud, we’ve been able to introduce a cloud-based version of our products which reduces the startup cost for our customers. In addition, our services are now easier and faster to turn on, thus lowering the entry barrier for new customers.”
Assetcloud and /db are immediately available and can be configured either as on-site or as a cloud-based solution. Licensing costs are monthly and depend on the number of users and databases as well as the size of the databases. Alternatively, the licensing fees can be structured on a per-request-served basis, so that costs directly relate to generated revenue. VT Enterprise will be exhibiting Assetcloud and /db at the NY Business Expo, booth #66 on November 14 and 15 at the 69th Regiment Armory in New York City. For more information, please see http://nybusinessexpo.net. Free trial will be offered to qualified visitors to our booth.
About VT Enterprise.
VT Enterprise is an innovative IT company that has been serving financial services firms since 2001. With such firms increasingly relying on information technology to improve services and generate higher returns, access to expert programmers and the best software solutions has never been more necessary. VT Enterprise is determined to help its customers solve complex business challenges by offering high quality services. In addition to offering customized software development, VT Enterprise provides original solutions to data management that can be tailored to an organization's specific requirements. With companies facing ever more challenges to handle big data, VT Enterprise’s solutions are well timed to the market. VT Enterprise is self-funded and privately owned. For more information, please see http://www.vtenterprise.com and http://www.slashdb.com.
About Thetica Systems.
As Wall Street Securitization technology pioneers, Thetica Systems understands the needs of ABS market participants. Its clients include investment banks, hedge funds, capital management, brokers, dealers and others that invest in or monitor structured finance securities, with users from traders and trading desks, research and product controllers to risk managers, regulatory reporting and IT. Thetica – from the Greek letter “theta” which means Thought, Life Force and Reason and the word “etica” which means Ethics. Thought, reason and ethics are essential elements of any successful business and commitment to this concept is embedded in the company’s name. For more information, please see http://www.theticasystems.com as well as a recent video on Business Day.