To identify and develop candidate APIs , we recommend that organizations work closely with technology partners and industry groups to share approaches among comparable firms with similar systems and data models .
At TCS , we expect to be in the forefront of developing industry-leading APIs that will transform the industry for higher efficiency and improved services . API development requires an iterative approach , and we are working through specific use cases involving actual clients and their business needs within the larger ecosystem .
5 . Monitor success and evaluate next steps
Each success propels the next evolution of
operational data in the capital markets . To ensure the speed of that evolution , it will be critical to gather metrics and stakeholder feedback to ensure constant improvement and to make the business case for future cycles .
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" How can Digital Technologies Harness Data to Transform the Back-Office ?"
As an example , we are working with the local agent of a global custodian on approaches for sharing securities master reference data . These local agents have privileged access to data that nobody else has . As we go through the process of enhancing data governance ; embedding intelligence ; enriching with data provenance ; and building APIs ; we are also keen on collecting metadata about how the process is being changed throughout the entire lifecycle of the data . By capturing this metadata , we ensure that the local agent can be appropriately compensated for their efforts , while adding to the business case for future rounds of improvements throughout the ecosystem . l
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