Dovetail Selects Quartet FS for Real-time Data Analysis Capabilities
Dovetail, a provider of next generation payment services hubs, has selected Quartet FS to help deliver high performance real-time data analysis capabilities in the back office. As banks grapple with new regulatory and customer demands, such as more stringent intraday liquidity requirements, this new capability gives business users a real-time view of vast quantities of short-term cash flow data in real time with which to manage liquidity effectively.
The Dovetail Liquidity Dashboard provides an aggregation engine that supports customers in tapping into and analysing enormous quantities of payments data from any source. This capability is enhanced with Quartet FS ActivePivot real-time, in-memory and object-oriented online analytical processing (OLAP) tool. As a result, business users can interrogate their views of the bank’s liquidity positions to better control intraday liquidity and counterparty credit exposure without having to rely on their IT department or software vendor to re-write or customise queries and reports.
Martin Coen, chief executive officer (CEO) at Dovetail, said: “To date, liquidity solutions developed in-house by the banks have been fit for purpose. However, as the need for real-time liquidity data increases, many banks are finding their current solutions suffer from limitations in analysing the huge quantity of cash flow events flexibly and in real time. Today’s regulatory and business challenges require smarter and more efficient use of real-time data without the need for IT departments or vendors to recode and optimise queries. Our partnership with Quartet FS, and the inclusion of ActivePivot as a component of the Dovetail Liquidity Dashboard, enables us to help banks meet these challenges and provide real-time data analysis capabilities never before seen in a back office application.”