To use electronic data interchange software for compliance with Sarbanes-Oxley and Basel II Initiatives
Westboro, MA — August 16, 2004 — Countrywide Financial Corp., a diversified financial services provider, said it has selected enterprise data integration (EDI) software from Ascential Software Corp. as part of an extensive project designed to improve corporate reporting and enhance the company's compliance with Sarbanes-Oxley and Basel II regulations, as well as to achieve a single, accurate view of all its corporate data.
"Countrywide Financial has long been an industry leader in financial services, and we believe that having accurate and reliable data is a key component of maintaining that leadership position," said Tom Baker, executive vice president of enterprise systems at Countrywide. "We've selected Ascential Software because we are highly confident that they offer us the best solution for loading enterprise data into our PeopleSoft infrastructure."
Countrywide selected Ascential DataStage and Ascential RTI as part of a PeopleSoft Enterprise Performance Management (EPM) roll out that touches all lines of business within the company.
The Ascential Software products are meant to provide an on-demand solution that enables Countrywide to identify and transform legacy data from across the enterprise, then load it into a global PeopleSoft data warehouse to support executive reporting and facilitate compliance with Sarbanes-Oxley and Basel II regulations.