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We chose Oracle for its scalability, flexibility, and reliability, as well as its strong reputation in the financial services sector. Speed of deployment was also critical, and by choosing Oracle Application Express and hosting in the Oracle Cloud, we were up and running within just a couple of months.
MDM Compliance Systems (MDM) is a rapidly expanding business with a niche product for automating share disclosure in the financial services sector. All financial services and investment companies have to disclose details of their shareholdings on a daily basis, complying with 400 rules set by 90 different regulatory bodies. Non-compliance can result in multi-million dollar fines.
Having identified a gap in the market, MDM built a share disclosure rules engine using Oracle Database. MDM worked with Oracle Partner Explorer to develop a user interface using Oracle Application Express (APEX), and opted to host the new service in the Oracle cloud. MDM is now taking its new service to the global financial services market. It expects to grow the business tenfold over two years.
We created our rules engine using Oracle Database Cloud, and Oracle Application Express was the perfect choice for the new user interface. Oracle is well respected within the financial services industry and no other cloud service could provide the security, reliability, and reassurance our clients require.
MDM Compliance Systems specializes in interpreting global regulatory disclosure rules for finance and investment companies. The company provides MDM Shareholding and Disclosure System, an automated monitoring solution for financial institutions that are required to disclose details of shareholdings to financial regulators, ensuring that they always remain fully compliant with world-wide disclosure rules. Customers include investment banks, asset managers, and investment managers across the globe.
MDM Compliance chose Oracle partner Explorer to develop the user interface using Oracle Application Express. Explorer helped MDM to consider hosting options, and provided a detailed cost analysis of on-premises versus cloud deployments.
MDM chose a full managed service from Explorer, to look after maintenance and development on the Oracle APEX interface, and also to deliver a managed service for all hosting in the Oracle Cloud.
“We selected Explorer for its depth of experience in Oracle Application Express and its large team of experts. With the managed service, we don’t need to worry about day-to-day hosting or maintenance. We have a great relationship with Explorer, the team really understands and supports our business.”
Mark Martin, Managing Director, MDM Compliance Systems Ltd