BankInvest selects IHS Markit’s cloud-based EDM solution
By Joy Dumasia
BankInvest, the Danish asset management firm with $20 billion in assets under management, has selected IHS Markit’s Enterprise Data Management (EDM) managed service as part of a transformation program to support the firm’s continued 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 the front, middle and back-office systems. 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 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 the infrastructure and application on behalf of BankInvest and 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 and allow the firm to concentrate its resource on high-value projects.
COO Kurt Hangaard at BankInvest, said: “We are pleased to be working with the recognized leader in the data management space. 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.”
Jamie Penniman, Global Head of Commercial Strategy, Financial Services Solutions, IHS Markit, said: “Following recent projects with other firms in Sweden and Denmark, we are excited to expand our client base in the Nordic region. 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.”
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