Denmark's BG Bank, recently acquired by neighbouring Danske Bank, has implemented Raft's Xdeal middleware as an integration and development backbone to link new front office position keeping and price quotation components with existing back-end databases.
The bank, which runs many different front office applications through its asset management divisions, says it was essential that a seamless and reliable link between transactions in the front and back office was established.
Xdeal was developed using Raft's software components to provide both a middleware solution and the foundation for the implementation of other future front-office solutions.
Both BG Bank's browser-based position keeping system and price distribution system were developed using Xdeal. Arent Ronn, project manager, BG Bank, estimates the price quotation system has cut the cost of capturing prices and internally updating them by 100 per cent.
BRFKredit, one of the biggest mortgage institutions in Denmark, whose main activity is mortgage bond dealing, has recently made the move to Xdeal to improve its connectivity between front and back office.