CUNA Mutual Group Selects IHS Markit for Combined Investment and Data Management Platform in the Cloud
- Cloud , Data
- 09.10.2019 12:52 pm
IHS Markit , a world leader in critical information, analytics and solutions, today announced that CUNA Mutual Group, an insurance and financial services company that provides financial services to cooperatives, credit unions, their members, and other customers worldwide, has selected IHS Markit’s investment management platform, thinkFolio, as well as its Enterprise Data Management (EDM) and EDM Warehouse solutions. All three integrated solutions will be delivered via a cloud-based managed service running on Amazon Web Services whereby IHS Markit will manage the applications on CUNA Mutual Group’s behalf.
CUNA Mutual Group is replacing its front office trade management system with thinkFolio in order to consolidate its pre- and post-trade compliance requirements onto a single platform. The new system will also enable the company’s portfolio managers to better model trades and portfolios and improve the cash forecasting process. EDM will sit at the center of CUNA Mutual Group’s data processes and address the firm’s data quality and integration challenges. The clean, validated data will then pass into the EDM Warehouse which will act as a single source of truth for CUNA Mutual Group’s historical, time-series reporting for risk and performance management.
“This project represents a significant investment in our technology infrastructure that will support our long-term plan for growth, address some important functional gaps and reduce risk within our business,” said Lisa Herfel, Director of Investment Operations and Technology at CUNA Mutual Group. “IHS Markit was able to demonstrate how they could meet all of our technical requirements through a sophisticated and integrated set of solutions. The fact that they can all be delivered on the cloud and fully managed by IHS Markit will help us to focus on our business and ensure we have a scalable solution to meet future requirements.”
“We are really looking forward to getting started on this project to showcase the value that our combined solutions can bring,” said Andrew Eisen, global head of EDM and thinkFolio at IHS Markit. “As the industry moves from best-of-breed systems to end-to-end solutions, the work we have done integrating our technology platforms means we are well-positioned to meet this need.”