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BankInvest Selects IHS Markit’s Cloud-based EDM Solution to Support Business Growth
BankInvest, the Danish asset management firm with $20bn in assets under management (AUM), has selected IHS Markit's Enterprise Data Management (EDM) managed service as part of a transformation program to support the firm's continued growth.
Having increased market share significantly in recent years, the Danish asset manager is investing in its operations systems to help power the next phase of its growth. IHS Markit's EDM platform will play a pivotal role in the new set-up, automating data-intensive workflows.
EDM will aggregate security and pricing data from multiple internal and external sources before validating, mastering and distributing the data to front-, middle- and back-office systems. In this way, EDM will increase operational efficiency and data quality, while reducing risk. The decision to implement EDM follows BankInvest's positive experience as a customer of IHS Markit's Managed Corporate Actions solution.
EDM will be implemented as a managed service hosted on the Amazon Web Services (AWS) cloud. As part of the managed service delivery, IHS Markit will manage not only the infrastructure and application on behalf of BankInvest, but also operational tasks, such as liaising with data vendors and adding new data feeds. The cloud-based deployment will deliver the scalability and agility required to support BankInvest's growth, while also allowing the firm to concentrate its own resources on high-value projects.
"We are pleased to be working with the recognized leader in the data management space," said Kurt Hangaard, COO at BankInvest. "We have been impressed by the EDM team's domain expertise and relationships throughout the industry. We are confident the EDM managed service will give us the flexibility and scalability we need to achieve our goals and will free up the bandwidth of our own team to focus on driving the business forward."
"Following recent projects with other firms in Sweden and Denmark, we are excited to expand our client base in the Nordic region," said Jamie Penniman, SVP, Head of Commercial Strategy, Financial Services Solutions, IHS Markit. "BankInvest is at an important point in its growth trajectory. It is great to see the firm prioritize technology in this way. We are looking forward to working with them to deliver on their business objectives."
IHS Markit provides industry-leading data, software and technology platforms and managed services to tackle some of the most difficult challenges in financial markets. We help our customers better understand complicated markets, reduce risk, operate more efficiently and comply with financial regulation.
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