DekaBank, the German savings bank finance group’s central asset manager, has implemented SunGard’s Asset Arena Compliance solution to provide back office support for all its pre-trade, post-trade and post-net asset value (NAV) compliance requirements. Asset Arena Compliance gives DekaBank a standardised and flexible compliance solution that can help support its future growth plans.
Asset Arena Compliance offers a pre-installed set of rules that include typical prospectus guidelines, client directions, management restrictions and asset allocation strategies. It will help DekaBank to control and manage growing volumes of compliance data, adapt to a widening range of complex regulatory rules, and help minimise compliance-related latency issues.
Asset Arena Compliance integrates with DekaBank’s back office system and provides the users with country specific compliance rules for Germany and Luxembourg, as well as management rules for their investors. Asset Arena Compliance also helps to centralise and integrate all compliance data via its connection to DekaBank’s central data warehouse, helping ensure that compliance rules are applied using the same common data definitions.
Thomas Ketter, head of financial risk management at DekaBank’s business division Asset Management Capital Markets, said: “Asset Arena Compliance gives us a solution that can help us to manage a multitude of compliance scenarios, on a single consolidated platform. Since its successful implementation, we have realised benefits such as improved efficiency for compliance checking of more than 1,000 portfolios and segments, simplified and accelerated integration of additional data and a continued decrease in operational risk.”
Doug Morgan, president of SunGard’s institutional asset management business, commented: “DekaBank has long been a valued customer of SunGard. DekaBank’s selection of our new standalone compliance solution demonstrates that our development and enhancement of the Asset Arena solution suite is recognised and appreciated by our customers.”