About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

Raiffeisen Bank Implements Asset Control Data Management Platform

Subscribe to our newsletter

Raiffeisen Bank International (RBI) is in the process of implementing Asset Control’s AC Plus data management platform with a view to centralising data management for end-of-day valuations and market risk calculations across its operations in Europe and Asia. The bank selected Asset Control after an evaluation of competitive solutions and a successful proof of concept.

RBI was using a solution from a large data vendor as well as in-house systems to manage its market and non-static data before it decided that these solutions were not meeting its needs and that it needed a centralised data management system. The bank is headquartered in Austria and has 15 subsidiaries across central and eastern Europe as well as a presence in Asia.

Roland Klimesch, head of RBI’s Balance Sheet Risk Management, explains: “We wanted a proven system that could cover both market data and non-static data in a holistic way. Also, a system that would give us the ability to establish efficient end-to-end processes, from gathering the data, validating it and compiling a golden copy, to pushing it downstream to other systems. Asset Control fulfils all requirements with the functionality we require. In addition, we expect support in establishing our data management processes. Asset Control’s experience in this regard was a decisive factor.”

Implementation of AC Plus has started, with Asset Control acting as an implementation partner, and the software is due to go live at bank premises in Austria in the fourth quarter of the year. Asset Control CEO Richard Petti, says: “Before I joined Asset Control in October 2013, the company sold the data management platform with many technical papers and the customer would implement it. We have changed this as Tier 2 and Tier 3 organisations, such as RBI, do not have the large teams needed to support implementation of the platform. Instead, we work in partnership with customers, taking responsibility for the outcome of implementation and then handing over.”

RBI joins Asset Control customers in central Europe including Erste Bank, Commerz Bank and a number of insurance companies based in Switzerland. The company expects to win more business in the region as regulation drives data management improvement and hopes to add new customers from both the buy- and sell-sides to its total of about 65 worldwide. Some of these are expected to favour Asset Control’s hosted and managed data management solutions that were introduced early this year, while others will deploy enterprise solutions, helped by the company’s commitment to implementation. Existing customers, promises Petti, can look forward to new tools that will support improved use of the Asset Control data management platform.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: How to optimise SaaS data management solutions

Software-as-a-Service (SaaS) data management solutions go hand-in-hand with cloud technology, delivering not only SaaS benefits of agility, a reduced on-premise footprint and access to third-party expertise, but also the fast data delivery, productivity and efficiency gains provided by the cloud. This webinar will focus on the essentials of SaaS data management, including practical guidance on...

BLOG

SimCorp Integrates Software and Services to Deliver SimCorp One

SimCorp, a subsidiary of Deutsche Börse Group, has introduced an integrated platform for the global buy-side, SimCorp One. The platform includes Dimension, Simcorp’s automated investment management software, and Axioma factor risk models, portfolio construction tools, and multi-asset class enterprise risk solutions acquired in a merger late last year. Other elements comprise client communications, the company’s...

EVENT

RegTech Summit New York

Now in its 8th year, the RegTech Summit in New York will bring together the regtech ecosystem to explore how the North American capital markets financial industry can leverage technology to drive innovation, cut costs and support regulatory change.

GUIDE

Enterprise Data Management

The current financial crisis has highlighted that financial institutions do not have a sufficient handle on their data and has prompted many of these institutions to re-evaluate their approaches to data management. Moreover, the increased regulatory scrutiny of the financial services community during the past year has meant that data management has become a key...