October 11, 2011, Securities Technology Monitor – SourceMedia

“Clients have the ability to define their own rules on how master records should be constructed: it is for example possible to tell the system to pick the entity name from the back office system if the entity is a bank in the US or from the data warehouse if it is a corporation in Europe”.

“At that point, the usual cleansing solutions will generate a large spreadsheet reporting thousands of records that should be changed.,” explains Olivier Schlatter, managing principal of Joss Technology, who co-founded the firm in 2010. Schlatter was previously a project manager for Rabobank. The other co-founder is Julien Serdaru, a former research engineer with Dassault Systems.
Joss Technology takes a different approach: instead of leaving the clients with a report, the company partners with banking system vendors to propagate the adjustments into the receiving applications. The company views the data reconciliation process as an on-going task that should be run on a frequent basis to guarantee best results.