June 4, 2014 - Raiffeisen Bank International AG (RBI) has selected Asset Control's AC Plus as its data management platform to achieve centralised and efficient market data management for end of day valuations and market risk calculations.
RBI chose Asset Control following a thorough evaluation of the market and a successful proof of concept, which highlighted the robustness and ease-of-use of AC Plus as well as the breadth and depth of its functionality. In addition, Asset Control's experience in helping financial institutions set up data management processes was a key consideration in the selection process.
Roland Klimesch, Head of RBI's Balance Sheet Risk Management comments: "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.
Raiffeisen Bank International regards both Austria, where it is a leading corporate and investment bank, and Central and Eastern Europe as its home market. 15 markets of the region are covered by subsidiary banks. RBI is the only Austrian bank with a presence in both the world's financial centres and in Asia, the group's further geographical area of focus. Prior to selecting Asset Control, the organisation was using in house solutions for the management of its market and non-static data. However, RBI recognised the future importance of having good data management processes, both given the increasing regulatory requirements and the desire for increased agility and efficiency.
Roland Klimesch adds, "We wanted a proven system that could cover both market data and non-static data in a holistic way and also a system that would give us the ability to establish efficient end-to-end processes starting from gathering the data, validating it, compiling the golden copy, and then pushing it down stream to the other systems."
Richard Petti, Chief Executive Officer, Asset Control, adds: ""We provide RBI with a reliable product that will make processes for market and non-static data more efficient. RBI has demonstrated a clear commitment to establishing good financial data management processes. Asset Control is delighted to be partnering with RBI to help it achieve its objectives and establish best practice that will help align the business for future requirements."
