CUNA Mutual Group, an insurance and financial services company working with cooperatives, credit unions, their members, and other customers worldwide, is following the industry trend of decreasing supplier numbers, moving to the cloud, and consolidating end-to-end solutions as it replaces its front-office trade management system. The company has selected IHS Markit to fulfil its need and will implement the vendor’s investment management platform, thinkFolio, as well as its Enterprise Data Management (EDM) and EDM Warehouse solutions. The solutions will be integrated and delivered from a cloud-based managed service running on Amazon Web Services with IHS Markit managing the applications on behalf of CUNA Mutual Group.
The company will implement thinkFolio to replace its front-office trade management system and consolidate its pre- and post-trade compliance requirements onto a single platform. The system will also enable the company’s portfolio managers to better model trades and portfolios and improve the cash forecasting process. EDM will sit at the centre of CUNA Mutual Group’s data processes and address the firm’s data quality and integration challenges. Clean, validated data will then move into the EDM Warehouse, which will act as a single source of truth for CUNA Mutual Group’s historical, time-series reporting for risk and performance management.
Lisa Herfel, director of investment operations and technology at CUNA Mutual Group, says the project is a significant investment in technology infrastructure that will support the company’s long-term plan for growth, address functional gaps and reduce risk within the business. On the selection of IHS Markit, she adds: “IHS Markit was able to demonstrate how it could meet all our technical requirements using a sophisticated and integrated set of solutions. The fact that everything can be delivered on the cloud and fully managed by IHS Markit will help us focus on our business and ensure we have a scalable solution to meet future requirements.”