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Solvency II, Basel II and efficiencies delivered by Single View of Customers, Patients and Citizens drives demand for Datanomic’s software

Increasing regulation and the efficiencies gained from a single and holistic view of data has fuelled yet another year of record growth for fit-for-purpose data and screening specialists Datanomic Ltd. Bucking the downturn economy, Datanomic grew revenues by almost 200 percent in 2008 and signed significant new customers, mainly in the financial services, telecommunications, retail and local government markets.

Datanomic has seen growth in all three of its strategic lines of business: Sanctions & Politically Exposed Persons (PEP) screening; Business Improvement and Migrations; and Single View of Entity, including Customer, Product and Process. Areas such as Solvency II and Basel II for capital adequacy management, and the efficiencies and economies of scale delivered by a unified single view of customers, patients and citizens are key factors driving demand for Datanomic’s award-winning dn:Director software. The company also continued its global expansion in 2008, closing major new customers in the US and winning strategic new customer accounts across mainland Europe. Datanomic’s software is now installed across the four continents of Europe, Africa, Asia and the Americas.

“Fit-for-purpose data is vital for improving business performance, identifying commercial opportunities, and ensuring adherence with compulsory legislation and regulatory compliance,” said Dr Jonathan Pell, CEO of Datanomic Ltd. “Proactive risk management by public and private sector organisations has led to a significant increase in the purchase of screening solutions. Likewise, the growing burden of legislation and regulatory compliance reporting is resulting in an escalating need for fine granularity of detail. The tough economic market conditions are further highlighting the need for fit-for-purpose data when recalculating capital adequacy and other strategic measurements, and the generation of a holistic single view of an entity continues to be a key driver in almost every sector.”

Legislative market drivers and strong customer demand in each of these areas are driving commercial momentum, international expansion and market penetration for Datanomic.

“Demand for best of breed products, such as Datanomic’s dn:Director, is also fuelled by increasing levels fraud as the credit crunch bites,” continued Dr Pell. “Our customers want to safeguard against money laundering or unknowingly doing business with criminals, as well as finding ways of unlocking the value of their data assets through greater efficiency. This is why we did two major product releases in 2008 and continue to invest heavily in our product development. By working closely with our partners, we will be extending Datanomic’s market reach both domestically and internationally over the coming year.”

Datanomic now has more than 200 consultants in multiple Systems Integration partners around the world who are trained in, and using, dn:Director as a fundamental part of their proof-of-concept activity. The company is also working with major ISVs and plans to continue to aggressively expand its partner network throughout 2009 to keep pace with customer demand.

About Datanomic

Datanomic’s holistic approach to delivering fit-for-purpose data and screening accuracy enables its growing list of global blue chip clients to achieve a rapid Return on Investment, by exposing and correcting deficiencies in information their businesses rely upon, and by discovering potential regulatory and legislative compliance data issues in line with proactive risk management. Our clients come from a wide spectrum of industries including financial services, telecommunications, government, healthcare, utilities, professional services and engineering.

For further information, please contact:
Kim Squire
Devonshire Marketing
Tel: 0870 7000 166

This press release was distributed by ResponseSource Press Release Wire on behalf of Devonshire Marketing in the following categories: Computing & Telecoms, for more information visit https://pressreleasewire.responsesource.com/about.