Press releases
DZ BANK AG relies on Profidata for further growth in its custodian bank business
DZ BANK AG is consolidating its custodian business on Profidata AG's XENTIS investment management system, thereby strategically positioning itself for further growth.
Urdorf, 2 April 2019 | XENTIS enables end-to-end process automation and highly efficient processing of custodian mandates. The successful implementation of previous projects was also a decisive factor in choosing the Profidata solution. With the addition of another custodian bank, Profidata is consolidating its position as a leading service and software provider for custodian banks in Germany. Peter Tenbohlen, the responsible division manager at DZ BANK AG, explains: "Since the merger of DZ BANK and WGZ BANK, the custodian bank business has developed positively. Now is the right time to take the next step and consolidate the business on a future-proof technical platform. With the introduction of XENTIS as an integrated custodian solution, we will be able to replace a large number of legacy systems, which will significantly reduce complexity. This will enable us to respond even more quickly to new requirements in the future and further increase service quality and security for our customers."
"XENTIS was designed from the ground up for fund administration. Functions such as portfolio reconciliation, fund accounting and investment limit monitoring are integrated in such a way that users receive optimal support. Profidata's extensive experience in this area was also important to us in this context."
Gunther Glabbatz, Regional Director of Profidata Services AG in Frankfurt, adds:
"DZ BANK AG's decision to introduce XENTIS in its custodian bank confirms Profidata's product strategy. XENTIS helps our customers become even more efficient and expand their business. We are delighted to welcome DZ BANK AG as another partner to the list of XENTIS custodian banks."
DZ BANK is the second-largest commercial bank in Germany. As the central institution and central bank for all 850 German cooperative banks, DZ BANK. Die Initiativbank is also active as a commercial bank and acts as the holding company for the DZ BANK Group.
Profidata Group
Founded in Switzerland in 1985, the Profidata Group offers software solutions for investment and wealth management as well as services for financial service providers. Its headquarters are located in Urdorf near Zurich. The company has branches and representative offices in Frankfurt am Main, Saarbrücken, Luxembourg, London and Singapore.
Questions regarding this press release will be answered by
Gunther Glabbatz
Management Frankfurt
Profidata Services AG
Stephanstrasse 3
60313 Frankfurt
Germany
Phone +49 69 297 28 95 0
gunther.glabbatz@profidatagroup.com
www.profidatagroup.com
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