Bernie Madoff's Client List vs. MDM Software: Lessons Learned
April 02, 2009 — By Thomas Wailgum - CIO
While Bernard L. Madoff awaits sentencing from the comforts of his prison cell, the rest of world (financial and legal authorities) is untangling the web of investor connections, "feeder funds" and victims' transactional data that grew out of his now-infamous Ponzi scheme.
Bernard L. Madoff Investment Securities LLC's database of customer data (containing information on account owners, their addresses, and the relationships of the names and addresses to Madoff) and its spiraling connections is, in fact, not unlike what you'd find in many companies today: siloed databases chock full of customer, partner and supplier information that typically has consistency and data-cleanliness problems.
This nearly universal business problem ultimately leads many a company to investigate and launch master data management (MDM) ....... (See Full Article)