Urdorf, 17 February 2019 | Another renowned bank is now using XENTIS in the cloud (Xcloud) to streamline its custody business. Bank Frick will further digitise and automate the diverse tasks involved in the custodian process using the XENTIS investment management software. In doing so, it is continuing to drive forward its positive business development in the area of custodian services and creating the conditions necessary to meet the increasing requirements of the market and regulatory authorities in the best possible way.

Among the decisive factors in choosing Xcloud were the functional options and displays of all workflows relevant to the custodian business, which are preconfigured in accordance with best practice. In addition to the powerful fund accounting and NAV calculation functions, the XENTIS modules for reconciliation, fees, reporting and investment compliance were particularly impressive. The latter includes the Country Rule Set of the Principality of Liechtenstein (IUV) for pre- and post-trade compliance checks. The offering also includes services such as data provision, database and interface management (holdings and prices).

Raphael Haldner, Head of Fund & Capital Markets at Bank Frick, is convinced that Profidata is the right partner for the joint journey into the digital future of the custodian business:

"Thanks to Profidata taking over additional services such as hosting and data management, we can concentrate fully on our clients and day-to-day business. This flexible and scalable solution, which can be adapted to our requirements at very short notice, significantly increases our performance in the fund and custodian business. It forms the technical basis for Bank Frick's ambitious growth plans in the area of innovative fund services and trading and custody of cryptocurrencies. Profidata understands and supports the implementation of our business model and is our preferred business partner."