Autor: karl

The excitement surrounding Artificial Intelligence (AI) is increasing every day. But, along with it, there comes a growing awareness of the crucial role of data quality. Data quality issues can stem from various factors, including missing data, human errors, weak data governance, and incorrect transformations. When companies aim to utilize their data for AI model development, low-quality data can significantly restrict the potential value derived from such models.

Whether it’s AI or any other decision-making process, the evidence is the same: Data-driven decisions based on high-quality data are better decisions.

Implementing standards such as the FundsXML standard can enhance data quality. By following standardized data formats and validation rules, FundsXML users can minimize errors and inconsistencies in their data. This improves the training and performance of AI models, leading to more reliable predictions and ultimately to better decisions.

The FundsXML organisation wishes you all a very Merry Christmas and a Happy New Year.

As we look back upon the past year, we want to acknowledge those who helped us shape our organization. A lot has been achieved in this respect. For example, the increasingly complex regulatory reporting obligations for Asset Managers were taken into account when the FundsXML versions 4.2.0 and 4.2.1 were revised in 2022.

In this regard, for example, new data fields relating to the European ESG Template (EET) and the European PRIIPs Template (EPT), which have been harmonized at the European level by FinDatEx, were being integrated into the current schema.

The European data strategy aims to make the EU a leader in a data-driven society.

In addition to that, the publication of the legislative proposal regarding the European Single Access Point (ESAP) made it clear that data-driven processes are on the rise in the entire EU capital market. Specifically, the ESAP data platform aims to record financial and sustainability data on companies and investment products in a standardized machine-readable form.

FundsXML users are already very well familiar with the processes of machine-readable data transmission. Against this backdrop, the standardized and machine-readable FundsXML format has once more proved to be well-timed.

Last but not least, by providing the asset management industry and other users with free documentation materials, video tutorials, and webinars, the FundsXML organization further supported the transfer of high-quality information.

We look forward to continuing our joint success in the years to come.

When will it rain? How much grain will we harvest? Since the dawn of time, humankind’s survival has depended on the availability of accurate information. Today the number of questions we need to ask becomes more, and the answers we need to uncover in order to develop are ever more sophisticated.

In the same way, the development of Asset Managers depends fundamentally on the availability of high-quality information. Such information is accumulated and processed through data-driven business models. Data-driven business models promote innovation, enhance processes and lower transaction costs, leading to competitiveness and economic expansion.

On the other hand, bad-quality data can significantly negatively impact Asset Managers, frequently causing angry clients, additional costs, wrong decisions, and sometimes even fines or more subtle adverse effects. An article published in the renowned MIT Sloan Management Review in 2017 outlines that insufficient quality data costs companies on average, 15% to 25% of their annual revenue – A sum high enough to be a decisive factor for a company’s continued mid- to long-term economic success.

FundsXML helps Asset Managers to fix and improve their data sets by enabling data quality checks. Using the FundsXML format helps you to ensure that your business partners and end users are working with high-quality data. Therefore FundsXML makes it possible for you to treat data as what it is, your most valuable asset.

In particular, using the FundsXML format, different factors relevant to high data quality are considered.

FundsXML helps you to ensure the following:

That your data contains the correct values and a proper structure.

That your data contains all the elements that it should include.

That your data conforms to a standard set by an international organization.

That your data is consistent.