Neoxam Impresses French Banking Giant CACEIS
- Banking , Data Management
- 05.11.2019 10:01 am
The regulatory landscape is becoming increasingly complex on the buy-side, with the introduction and evolution of regulations like Solvency 2, PRIIPs and IFRS 9. On a yearly basis, CACEIS needs to produce over 10000 annual and semi-annual reports, for different business lines (Mutual Funds, Private Equity & Real estate Funds) for a dozen of jurisdictions, up to 250 pages long, with around 30 different contributors and in 4 or 5 different languages. The amount of time spent on these reports is not only time consuming, but time-sensitive. When the demand comes from clients or regulators, firms generally have 3-6 weeks to provide the relevant reports.
As a result, CACEIS chose NeoXam to help them automate and ease this complex process. NeoXam’s Impress solution is based on NeoXam’s award-winning DataHub onboarding its Accounting Book of Records (ABOR), ensuring high quality and well-presented Data in all the reports that CACEIS generates.
Ramy El Houayek, Global Head of Operations Fund Services at CACEIS, said: “When it came to winning new business, the ability to provide our clients with tailor-made reports became a huge crunch point. We investigated several reporting solutions, but none offered this level of customisation as well as automation. As a result, we turned to NeoXam to provide a solution which is agile, not only when it comes to responding quickly to regulator demands, but also in providing each new client with a personalised and detailed report.”
Didier Roubinet, Chief Strategy Officer at NeoXam, commented: “We are convinced that the future of reporting is digital. To remain competitive, firms need to be able to tell the whole story behind their figures, rather than just providing a printed snapshot. This is why we created a solution which allows firms to give a dynamic representation of their data, as well as coping with increased reporting demands under new regulations. We’ve worked closely with CACEIS for over a decade, and are happy to continue to support them in their growth.”