Press releases
The Apex Group selects XENTIS for its growth strategy in the KVG service business
Following the acquisition of LRI Invest and the former Warburg Invest, the Apex Group has reviewed the various software solutions used for fund administration in Luxembourg.
Urdorf, 30 March 2021 | The Apex Group offers its customers a range of system solutions depending on the asset class and customer-specific requirements. The decision was made in favour of the XENTIS fund administration solution, which has been in use at LRI Invest for many years. XENTIS will replace existing systems for financial asset funds in German-speaking markets, paving the way for further growth for the Apex Group in this segment.
The decisive factor in choosing the Profidata solution was the excellent experience with XENTIS, which has enabled LRI Invest to achieve end-to-end process automation and highly efficient fund administration for many years. With the acquisition of Apex subsidiary Apex Fund Services in Luxembourg, Profidata is consolidating its position as a leading software supplier for service KAGs, KAGs and fund administrations in Luxembourg.
In the overall context of the proof of concept, not only was a direct comparison of the functions and processes with the system used to date and to be replaced carried out, but further optional XENTIS modules and functions were also analysed, which allow comprehensive digitisation and automation of order processing, fund accounting and investment limit checks, thereby generating additional value for the Apex companies in Luxembourg.
Frank Alexander de Boer, responsible KVG board member, is delighted that, thanks to the introduction of XENTIS as an integrated successor solution, Apex can respond even more quickly and efficiently to new requirements in the customer segment and further optimise service quality and security for customers. XENTIS was designed from the ground up for fund administration.
"As a leading financial services provider, the Apex Group offers all key services through its brands Apex, EDB, FundRock and LRI: Super-ManCo, corporate and fund administration, and custodian bank services, either as an integrated complete solution from a single source or as individual solutions. The functions developed by XENTIS, such as order processing, fund accounting and investment limit monitoring, are interlinked in such a way that users receive optimal support, making them an excellent fit for our business model."
According to Andreas Funk, Regional Director of Profidata Services AG in Luxembourg, Apex's decision to rely on XENTIS in the future confirms Profidata's product strategy. Dr Frank Jenner, member of the Profidata management board, adds: "XENTIS helps our customers become even more efficient, enabling them to optimally position their business for future growth and the challenges that come with it. We are delighted to welcome the Apex Group as another renowned partner to our XENTIS customer base."
Founded in Bermuda in 2003, Apex Group Ltd. is a global financial services provider. With over 45 locations and 4,500 employees worldwide, Apex offers a wide range of services for asset managers, capital markets and family offices. The group has continuously improved and expanded its range of services to offer solutions from a single source. Apex has the broadest product range in the industry, including fund services, digital onboarding and bank accounts, custodial and super-managed company services, business solutions including HR and payroll, and a groundbreaking ESG rating and advisory service for private companies.
Profidata Group
Founded in Switzerland in 1985, the Profidata Group offers standard software solutions for investment and wealth management. This offering is complemented by a rapidly growing, broad range of services in the areas of software as a service, consulting, implementation, training and support. Profidata is headquartered in Urdorf near Zurich. The company has offices and representatives in Frankfurt am Main, Saarbrücken, Luxembourg, London and Singapore.
Questions regarding this press release will be answered by
Andreas Funk
Regional Director
Profidata Services AG
European Bank & Business Centre
6B Route de Treves
L-2633 Senningerberg
Luxembourg
andreas.funk@profidata.com
www.profidata.com
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