Monarch Data Pump automatically transforms existing brokerage reports into actionable, delivered data for easy:

• Cash management
• Operational management
• NASD and SOX compliance...
• and more

"Monarch Data Pump provided the complete report and data automation we were looking for."

Brokerages Transform National Financial (Fidelity) Brokerage Reports into Live Data, with Automatic Data Delivery. Banks, brokerages and other financial service firms often outsource core transaction processing to an outside service provider. Instead of printing daily, weekly or monthly report files delivered by such outside processors, Monarch Data Pump can automatically transform these reports into live, customized data, delivered to the right person at the right time.

The U.S. brokerage division of a leading publicly-held global insurance and financial services firm recently kicked the paper reporting habit using Monarch Data Pump and now automatically delivers customized data mined from its reports. Prior to Monarch Data Pump, the brokerage firm was awash in paper reports provided by the company's investment clearinghouse service.

The Systems Analyst for this brokerage firm, who also serves as Administrator for Monarch Data Pump, spoke with Datawatch recently on the company's impressive success transforming report files into automatically delivered, programming-free data, using Monarch Data Pump. He explained, "We use National Financial (Fidelity) for its clearing services and all reporting. We receive over 130 reports on a daily basis, sent to us as text files from via a dedicated T1 line. The reports contain a wealth of critical information, but the data is, of course, frozen on the printed page."

"Before Monarch Data Pump, we had to print a lot of reports; and I mean a lot of paper. At that time, one of the traders was assigned to printing, splitting and shipping reports to the right people. He was too busy with the reports to do any trading!

"Managers and workers then had to re-key a huge amount of data from their paper reports into Excel. It was an awful waste of time all around, not to mention the possibility of delays in acting on needed data."

FROM MONARCH TO MONARCH DATA PUMP

Aware a new technology solution was essential to end the company's expensive and inefficient report printing and rekeying of data, the company discovered Monarch, Datawatch's desktop report mining tool. "Instead of printing reports, you can open your print files in Monarch," Datawatch was told. "Monarch mines the data from the report files, plus allows us to add calculated fields of data, sort, filter and summarize the data, and export it to Excel, without programming."

Still, with the large volumes of reports delivered by National Financial every day, week, month and beyond, the brokerage firm needed to fully automate its data processing. "Monarch is still used by many managers and workers for ad hoc analysis, but we really needed to end all repetitive manual Monarch work. Our managers and workers need certain views of the data on an automatic basis, day in and day out."

"That's where Monarch Data Pump came in. Monarch Data Pump provided the complete report and data mining automation we were looking for. We installed Monarch Data Pump on a dedicated Windows 2000 server. As soon as National Financial transmits our report files to us, Monarch Data Pump automatically mines the correct data, exports the data to Excel, and delivers it to the correct departments with no manual work at all.

"Monarch Data Pump has ended our report printing and data re-keying once and for all."

CUSTOMIZED DATA, COMPLIANCE AND MORE, MADE EASY

Monarch Data Pump makes delivery of data to branch offices a snap. "We used to ship boxes of paper reports to our office [based in the southern U.S.], and other reports to a separate organization assigned to manage certain accounts. Today, Monarch Data Pump automatically mines the data from certain reports, filters the data to display only, for example, account data for our [Southern U.S. office], and sends the data as Excel files via FTP.

"Here in our headquarters facility, we use Monarch Data Pump to create and deliver data to our Cashier, Operations, and Compliance departments. Managers now have the data they need immediately, expediting a wide variety of time-sensitive workflows.

"Monarch Data Pump provides the correct, customized data to make our cashiers' job of tracking customer funds sent to us much easier. And our operations managers can easily confirm that all accounts created the previous day were properly created, and proactively identify any needed corrections."

"Compliance is also a very important aspect of our business. Many reports from National Financial are useful to aid compliance, but Monarch Data Pump automatically puts the report data together exactly as our compliance managers need.

"For example, Monarch Data Pump mines and combines data from multiple mutual fund related reports, along with registered representative data, to create an Excel file with specialized data to help our managers ensure no investment 'churning' is taking place."

"We are a public company, so Sarbanes-Oxley (SOX) compliance is also critical. Monarch Data Pump automatically delivers data on all transactions greater than a certain dollar amount, accounts with fluctuating transaction volumes, and many other unusual types of account activity our compliance managers want to track. Monarch Data Pump is a highly effective tool to automate compliance monitoring."

MONARCH DATA PUMP: AN ESSENTIAL BROKERAGE DATA SOLUTION

Even with this brokerage's impressive success with Monarch Data Pump so far, there is still plenty of additional automation to be achieved. As Datawatch was told by its brokerage customer, "As we inform more and more people about Monarch Data Pump and the time savings and business benefits it offers, the more we expand its use. People quickly come to depend on Monarch Data Pump to get the data they need, when they need it."

"I would encourage other brokerage firms to start imagining their reports not as stacks of paper, but as mini-databases, just waiting to be transformed into customized, automatic data with Monarch Data Pump.

"Monarch Data Pump is now a key component of our enterprise data processing and information delivery system, which our managers and workers rely on for programming- free, trouble-free data, every day."

Financial Services: Kick the Paper Reporting Habit with Monarch Data Pump