NORD/LB Asset Management AG has managed to roll out the XENTIS software system in the space of just ten months.
During that time, fund assets of EUR 19.7 billion and asset management mandates totalling EUR 12.9 billion, invested in a variety of asset classes using complex fund and portfolio structures, were migrated to XENTIS. The entire value chain was modelled in the XENTIS integrated investment management system, making the previous system configuration redundant. From now on, processes such as portfolio management, order routing, control of pre- and post-trade investment compliance, matching, settlement, parallel accounting under HGB and IFRS and statutory reporting will be handled entirely in XENTIS.
Marc Knackstedt, director of NORD/LB Asset Management AG, sums it up: 'The decision to replace the existing system following a change of ownership at our previous service provider wasn't an easy one. After assessing alternative providers and systems, it was clear to us that XENTIS is the right system for implementing our strategy. The project was completed on time and on budget, and the live system is now working flawlessly, which confirms that we took the right decision and that Profidata is the strong business partner we were looking for. Not only is XENTIS a well-established software product, but we also benefit from the pooled experience of an active user community. By minimising interfaces and increasing the efficiency, we are able to achieve a sustained improvement in our performance. All this will ultimately be to the benefit of our clients.'
Christian Widmer, CEO and Chairman of Profidata Group, adds: 'Changing a core system requires a certain willingness to take risks and convincing arguments for the new solution. The success of this project proves beyond all doubt that NORD/LB Asset Management AG took the right strategic decision. We are glad that NORD/LB Asset Management AG values our product and appreciates the dependable working relationship it has with Profidata. XENTIS stands out through its great functional breadth and depth, as well as a modern and future-proof architecture. We have once again proved our ability to deliver projects quickly and efficiently, thanks to our team of highly qualified experts.