NRW.Bank, the largest of Germany’s regional development banks in terms of assets, and Bankgesellschaft Berlin, a regional corporate bank, have gone live with BSP ProDB from Actis.BSP, a German provider of core banking and capital markets systems. Both banks will use the BSP platform to handle securities descriptive data and corporate actions information.
BSP ProDB is essentially a smart middleware layer that automates the consolidation and validation of securities master and event data from various providers and dispatches it to client systems in a flexible way. BSP ProDB takes care of data-cleansing, enhancing external and internal data. The Java-based system supports real-time requests and is largely operating system independent.
NRW.Bank is using BSP ProDB to upload, display and consolidate all data delivered by Wertpapier-Mitteilungen (WM), a German vendor offering static data and corporate actions data. BSP ProDB also converts and stores the data into user-defined structures, such as XML, CSV files or database tables, before being made available for other NRW.Bank systems and applications.
In the next project phases, NRW.Bank plans to extend BSP ProDB to allow data describing the bank’s own securities – including internal security types that are not supplied by WM – to be entered and maintained by the back-office in user-defined screens.
In future, the bank will monitor all securities data in a central database hub where the data is ready to use by other systems via flexible interfaces.
NRW.Bank was formed following a re-organization last year of Westdeutsche Landesbank Girozentrale into two separate banks, the other now known as WestLB AG. NRW.Bank, the development bank for the State of North Rhine-Westphalia, employs some 920 people at its dual headquarters of Duesseldorf and Muenster.
Meanwhile, Bankgesellschaft Berlin has added securities data management capability to the Actis BSP Corporate Actions (BSP CA) solution it implemented in November. The bank is using BSP CA for automated bulk processing as well as for individually adapted workflows for complex corporate actions events.
BSP CA automates the administration of corporate actions, supporting data processing for dividends and coupons payments, including all fiscal elements. The system can be integrated with an
in-house securities processing system or with Actis.BSP,s own BSP Trade component.
Actis.BSP, which has two offices in Germany employing around 160 people focused on its mainly German banking client base, expects turnover this year of about EUR 18 million this year. In business for over 20 years, key shareholders include Lloyds Bank London and 3i London.