Component-based financial software house Raft International has won a contract to build a new technology and business solution to support the private banking arms of Heritable Bank and Landsbref hf, subsidiaries of Landsbanki (former National Bank of Iceland), that will integrate with their existing systems in London and Iceland.
Raft and its partner company, Mens Mentis, a specialist Icelandic software company that focuses on the domestic finance sector, will jointly implement the project across the locations.
The initial phases of the project at Heritable Bank will be completed in under eight weeks says Raft. Subsequent phases will follow throughout the remainder of the year to roll out and extend the solution into Iceland.
Raft says it will construct the solution using wealth management components from its component inventory and will cover such functional areas as performance calculations, model and benchmark portfolios, what-if analysis and simulation, order and trade management, investment strategy and restriction.
Raft's portfolio of component applications has been constructed using Microsoft's Windows DNA architecture.