Banks Begin Testing MDSL-FactSet Auto-Procurement

The service automates the process of permissioning and ordering market data services—initially from FactSet, though MDSL is extending it to cover other vendors' services.

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Three large banks will begin proof-of-concept testing of a new automated data procurement service developed by inventory management software vendor MDSL and FactSet in January, which will make it quicker and easier to permission services from the data vendor, and make invoice reconciliation more accurate.

The vendors developed the service—dubbed eBonding Procure to Pay—over the past year, and MDSL is now in talks with a handful of other vendors about extending the service to also cover their

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