Prometeia & ADWEKO
Integration of SAP data has never been so easy!
Italy/Germany, April 2022 – Prometeia and ADWEKO have signed a strategic partnership to enhance the ETL functionalities of ERMAS™, the enterprise risk management solution developed by Prometeia, with the ADWEKO FSDP2ERMAS™ Adapter, a bidirectional interface designed to facilitate data integration between the SAP FSDP™ (Financial Services Data Platform) and the Prometeia solution.
In particular, the ADWEKO FSDP2ERMAS™ Adapter offers two complementary components:
- an inbound data integration module, which delivers a read-only access to the SAP FSDP™, in order to extract the input flows required by the ERMAS™ suite for risk and regulatory reporting;
- an outbound module, which supports the back-feeding of the variables calculated by ERMAS into the SAP FSDP environment.
Through this partnership, Prometeia intends to provide its clients with a quick and cost-effective solution for the extraction, transformation and loading of FSDP elementary information from the SAP native environment directly into the ERMAS Data Management Module.
In particular, the ADWEKO FSDP2ERMAS™ Adapter guarantees:
- maximum flexibility in the data mapping process, in order to ensure an effective alignment of input flows with the ERMAS™ data dictionary;
- full auditability and traceability of all transformation steps, through the ADWEKO multi-stage processing layer;
- the possibility to integrate the ETL process with data integrity and consistency checks;
- an ongoing and systematic update of the data interface by ADWEKO, to reflect potential changes in the SAP structure and technology.
The signature of this alliance plays an important role in the strategic vision of Prometeia to gradually expand into the German and Central European market, where SAP FSDP™ is used by an increasing number of banks to feed Risk analytics and regulatory reporting solutions.
This is confirmed by Massimo Pedroni, Head of Risk Management International business line at Prometeia: “ADWEKO has developed a very flexible and powerful solution to feed data out of FSDP™, which allows Prometeia to integrate our ERMAS™ platform with the SAP environment in a quick and cost-effective way. This partnership is the answer to one of the main challenges that RiskTech providers face nowadays, that is to quickly adapt to the structure and characteristics of the client’s source system without substantial IT effort. With ADWEKO, we expect to offer customers a turn-key solution to this need, in particular in the DACH region, where SAP is widely used as a unique point of data collection.
Björn von Staden, Product Manager at ADWEKO about this new inspiring partnership.
What are the key strengths of your solution with respect to other SAP data integration layers?
ADWEKO knows the technology SAP FSDP from the very beginning and we’ve focused on third party data integration ever since. Our experience includes highly complex functional constructs as well as performance optimization in customer environments and with real data. Moreover, our close partnership with SAP Fioneer enables us to have direct involvement into FSDP data modeling and development.
What are the challenges of a company like ADWEKO, which has its point of excellence in data governance and data analytics?
The biggest challenge is to reach an industry-proven standard for the consumption of the FSDP data model. It is crucial to bring customer, consumers and vendors requirements together and define ways that fit all stakeholders. In short, we need to deliver the same high-quality integration solution once, instead of solving the same issue individually at every different customer’s project.
What is your expectation about the partnership with Prometeia?
We share with Prometeia the vision to deliver customers an integrated solution, with lower additional efforts in the integration project, covering 100% of client needs when it comes to FSDP™ data requirements.
Prometeia is a global firm of quantitative experts and software engineers, dedicated to applying financial modelling, economic research and data science to solve complex business and regulatory challenges. Established in 1974 as an independent institute for economic research, for half a century Prometeia has been developing innovative software solutions, studies, and reports for banking and insurance groups, institutional investors and public organizations. The distinctive mix of competences has made Prometeia a leading European company in Risk, Asset and Wealth Management solutions. Our expertise is proved by our award-winning solutions, our double-digit growth in turnover and staff, over 300 references in 20+ countries. The Prometeia suite offers a powerful Balance Sheet Management platform, covering Risk and Regulatory Compliance needs, fully integrated with a proprietary modelling environment, designed to accelerate the development of internal models and advanced analytics. To know more: www.prometeia.com and firstname.lastname@example.org.