In 2011, LCL, a subsidiary of Crédit Agricole S.A. Group, sought to modernize the management of its finance and accounting master data. In 2012, Crédit Agricole signed a Group-wide agreement to deploy Orchestra Networks' MDM platform - EBX5.

As a result of this agreement, EBX5, a multi-domain MDM software designed for business users, will allow companies to manage and govern all their reference and master data across various business functions, said company officials.

“The first initiative launched by LCL demonstrates how MDM evolves at large companies by providing business users with full control of their master data, in an intuitive and highly collaborative solution,” said Christophe Barriolade, CEO at Orchestra Networks.

In order to accelerate future projects and ensure uniformity across MDM initiatives, Orchestra Networks is expected to bring out a MDM best practices guidebook.

With operations in 70 countries, the Crédit Agricole Group is a premier partner in supporting clients with their projects in all areas of retail banking and associated specialized business lines.

Touted as one of the largest banks of Europe, Crédit Agricole was in search of a solution that was wide ranging in its financial functionalities, flexible, had an easy-to-use user interface with collaborative features and most importantly had a multi-domain approach. EBX5 fit the bill on all counts.

Financial services organizations worldwide rely on Orchestra Networks’ software to apply governance to their critical master data.

Other news reports Orchestra Networks and Steria, a leading European provider of IT-enabled business services, announced part the extension of their partnership across Europe.

“Orchestra Networks offers an exciting alternative in the shape of true multi-domain MDM, providing a governance-rich framework to drive value and advantage from our clients’ corporate data assets”, said Andy Whitehurst, head of enterprise data management at Steria, U.K.