Dutch insurance company Optas has licensed Princeton Financial's PAM portfolio management and accounting system.
The Rotterdam-headquartered pension benefits firm says it selected PAM primarily for the depth and flexibility of its accounting engine and the system's comprehensive coverage of securities.
Paul van den Heuvel, head of Optas' investment management department, adds: "The acquisition of PAM is also an improvement from a technical point of view, especially because of its modern relational database."
Besides licensing the core PAM for Securities and Mutual Funds system, Optas also licensed PAM's Import and Export Modules. The Import Module automates incoming data of several types, including transactions, security master file descriptive data and market data such as prices, dividends and ratings. The Export Module enables users to access data and create files for export to data warehouses, other applications and reporting tools.