Software package and information systems

Tender description

The successful supplier will need to supply and assist in implementing a solution to provide the end-to-end management of data in support of the Bank's market operations, namely around the Bank's Parties (e.g. counter-party), instruments, pricing, eligibility and haircuts. The solution will also need to support wider master data management across the Bank. A key aspect of the solution will be its work-flow management capability. It should be able to acquire and source data, model data, manage and validate data, distribute (including according to schedules) and allow reporting and monitoring. The solution will need to support the Bank's data governance processes. It will need to work with a wide range of other systems and tools so integration with the Bank's technology and operational framework is important. These will include the Bank's main trading and settlement systems for the market operations data and the components of the Bank's strategic Data Programme. The Bank plans to initially implement the data management solution in support of its market operations. The Bank will then look to extend the solution to mastering of data across other areas of the Bank more widely. This will include extending firm entity/Party data attributes, including some from the Prudential Regulation Authority (PRA), and other more standard reference data from external and internal sources such as country and currency codes. These extensions will also need to integrate with other systems, for instance in the case of Party, potentially a Customer Relationship Management (CRM) solution. More widely across the Bank there is a Data Programme intending to deliver strategic data capabilities through the introduction of 7 core services. Those services include a Master Data Management (MDM) capability to aid management and consistency of reference data. This solution will initially be used primarily for Middle Office operations but is envisaged to also provide the platform for cross division reference data management at a Bank-wide level. It is anticipated that the vendor will assist with project delivery, being completed primarily on-site at the Bank (Threadneedle Street, London, EC2R 8AH) with possible requirement to attend the Bank's contingency site unless agreed otherwise.