OeKB Selects Quantifi to Replace Existing Front-to-Middle Vendor Solution
- Quantifi selected to modernise and streamline trade and Risk Management processes
- OeKB able to dynamically monitor, report and identify risk, in real-time
London and New York (11th March 2015) - Quantifi, a specialist provider of Analytics, Trading and risk management solutions, today announced that Oesterreichische Kontrollbank Aktiengesellschaft (OeKB), will implement Quantifi as its core trading and risk platform. Established in 1946, OeKB is Austria's main provider of financial and information services to the export industry and the Capital Markets.
Despite volatility in several European markets, the Austrian economy has remained strong. OeKB’s mandate is to support the economy which requires their business to evolve both at the desk and enterprise levels. OeKB decided to replace their current front-to-middle office vendor platform as it was no longer adequate to produce the required performance and risk measures accurately and in a timely manner. Of the solutions considered, Quantifi was deemed the most suitable in terms of fit and best suited to allow OeKB to dynamically monitor, report and identify risk in real-time, and to achieve tight consistency between front-office trading and risk control.
“We recognised that to future-proof our business we would require a re-architecture of our technology infrastructure with a more advanced, robust solution. It was important for us to partner with a proven technology provider that could provide best-in-class front-to-middle office capabilities,” said Stefan Strehle, Senior Manager, International Finance, OeKB.
Quantifi delivers cross-asset trading, front-to-back operations, position management, market, credit, counterparty and liquidity risk management, margining, and regulatory reporting all on a single integrated real-time platform. As well as supporting the key regulatory and industry practices, Quantifi applies the latest technology innovations to provide new levels of usability, flexibility, and ease of integration. This translates into dramatically lower time to market, lower total cost of ownership and significant improvements in operational efficiency.
Achim Keuchel, Senior Manager, International Finance, OeKB comments “Having conducted a demanding selection process we chose Quantifi, which we believe offers us a modern and functionally rich strategic platform to modernise and streamline our trading and risk management processes. This will in turn facilitate more timely and risk-aligned trading decisions. Compared to other alternatives, Quantifi’s approach to implementation and integration offers OeKB lower project risk and a much faster time to market”
“Gaining one of the most prominent financial institutions in Austria as a client confirms our strong growth and increasing presence across Europe,” said Roland Jordan, Head of Sales, EMEA, Quantifi. “OeKB has several lines of business and we are delighted that they have partnered with Quantifi to revamp their trading and risk management infrastructure to provide new levels of flexibility and usability,” continues Roland Jordan, Head of Sales, EMEA, Quantifi.