Wednesday, October 26, 2005

Wolters Kluwer Financial Services Uses Secure Document Exchange (SDX) Packaging for Sophisticated and Secure Content and Services

With a wealth of concerns about compliance, security and legal monitoring in the financial industry the packaging of content has become a key concern for banks and brokerages worldwide. One solution that has emerged quietly on the infrastructure side in finance and other sectors has been Secure Document Exchange (SDX), a method for packaging content and functionality in digital objects that can travel through normal communications channels such as email from one company to another. SDX objects provide security, auditability, secure two-way communications and built-in forms to update data. Wolters Kluwer Financial Services has announced its implementation of SDX to support improved work flow and faster transactions in finance. SDX messaging in effect can create secure "deal rooms" in which information and insights can be exchanged and then deals secured via legal documents incorporated into SDX objects. While the emphasis at Wolters Kluwer Financial is on compliance, credit, and operational risk management solutions, the potential for SDX-style digital objects to become venues for deal-making of all kinds is huge - as is the importance of content vendors being able to provide content in SDX messaging that adds value to a transaction as it forms. We've talked a lot about the importance of getting content wrapped around the context of specific transactions as a key component for profitability in financial content; SDX represents the kind of transaction environment that may in time replace many desktop services as key market venues for financial content suppliers of all kinds.
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