Press Release
Leading German Asset Management chooses ATIS with Pentaho embedded
April 11, 2011, Frankfurt — Pentaho Corporation, the pioneer in agile business intelligence (BI), today announced that leading German asset manager, Union Investment Group has adopted the Pentaho BI Suite as a key component of its back office systems enabling industry leading efficiency.
Union Investment, established over 50 years ago, manages investments ranging from equities to real estate for clients in Germany, Poland, Italy and Asia, managing assets worth €169 billion. The company’s back office needs include a wide range of booking and settlement processes, which must comply with stringent national and international banking regulations. Union deployed the acarda Transaction Interface Suite (ATIS), developed by acarda, along with the Pentaho BI Suite Enterprise Edition, to improve the automation of its back office functions and increase its Straight Through Processing (STP) rate. acarda, providing business & IT consulting services for investment management in the fund and securities industry, is one of the leading companies delivering future-oriented expertise as well as solutions to projects where challenges with complex requirements are demanded.
After deploying ATIS with Pentaho, Union saw immediate benefits, including the ability to create a single view of over 1,500 funds. Pentaho’s advanced business intelligence platform improved their Straight Through Processing (STP) rate from 42% to 86% with outliers being automatically flagged and routed for supervisory attention to fund accountants. Pentaho’s data integration capabilities allows rapid, rule-based routing of vital information to decision-makers and fund accountants across the group and its intuitive interface has proved ideal for users who previously relied on Excel worksheets.
Andreas Meyer of Union Investment, said: “Pentaho is at the heart of our back-office ATIS system which has revolutionised the productivity of our operations. With improved STP and the ability to rapidly drill-down into exceptions, our business has achieved industry-leading efficiency even faster than we had hoped.“
Davy Nys, Regional Director EMEA for Pentaho, said: “The highly-regulated financial sector has the most exacting standards for IT, making expert consultancies like acarda extremely valuable. We are delighted to be chosen as the reporting and data management component for Union.”
About Pentaho, a Hitachi Group company
Pentaho, a Hitachi Group company, is a leading data integration and business analytics company with an enterprise-class, open source-based platform for diverse big data deployments. Pentaho’s unified data integration and analytics platform is comprehensive, completely embeddable and delivers governed data to power any analytics in any environment. Pentaho’s mission is to help organizations across multiple industries harness the value from all their data, including big data and IoT, enabling them to find new revenue streams, operate more efficiently, deliver outstanding service and minimize risk. Pentaho has over 15,000 product deployments and 1,500 commercial customers today including ABN-AMRO Clearing, BT, EMC, NASDAQ and Sears Holdings Corporation. For more information visit www.pentaho.com.
