Waters Tec-hnology has announced Alveo, a leading financial data management solutions provider, as the winner of the prestigious Inside Market Data and Inside Reference Data Best Reference Data Managed Service award for 2021. The award follows increased adoption of, and momentum for Alveo’s PaSS managed data service with recent customers, including Mediolanum International Funds Limited, Bankia and Venerable Insurance and Annuity Company.

“We are really pleased with this industry recognition,” said Mark Hepsworth, CEO Alveo, “We have continued to innovate our reference data management solution to help clients with data quality and straight-through processing - and in the last twelve months, two additional trends have evolved: clients processing multiple sources of ESG data and looking to analyse and manipulate this data; and clients moving reference data management to the cloud.”

Simon Rayfield, Head of Operations, Alveo, said: “Clients are looking to improve data quality and business user data access, and at the same time lower operating costs. By using managed services, they can de-risk change and allow firms to focus on the KPIs of their data processes, rather than all of the operating processes required to run a reference data management platform.”

The IMD/IRD awards recognise industry excellence within market data, reference data and enterprise data management and have been announced on the final day of this week’s Innovation Exchange Data Insights Spotlight event (May 17-20, 2021).