Austria's Constantia Privatbank licenses Calypso platform

Source: Calypso Technology

Calypso Technology, a global application software provider of an integrated trading application suite to the capital markets industry, today announced that Constantia Privatbank, the leading and most successful independent private bank in Austria has selected Calypso's cross-asset class platform for front, middle and back office.

As an upgrade from their existing in-house platform, Constantia Privatbank has adopted Calypso as a key component in their long-term strategy to expand their capital markets offering. The bank needed a platform that could meet their current demands for supporting and monitoring innovative treasury and derivative products, but also evolve along with the bank's growing support for the capital markets. In addition to the comprehensive multi-asset and front-to-back functionality, Constantia Privatbank has adopted Calypso ERS (Enterprise Risk Service) for market risk and limits, and is also one of the first users of Calypso Fast-Track to facilitate rapid deployment.

Calypso was adopted following a comprehensive selection process, in which Constantia Privatbank reviewed a number of global and regional players, obtained feedback from other Calypso clients, and ran a test installation of the platform. Once chosen, installation of the platform was initiated at the bank's headquarters in Vienna in a matter of hours.

"Implementing Calypso is a key component of our strategy to provide the best possible service to our discerning client base," said Dr Karl Arco, Member of the Board, Constantia Privatbank. "We were particularly impressed with the flexibility of the platform, quick time to market and with Calypso Fast-Track, which included proven best-practice implementation methodologies as well as a pre-configured database. We needed a future-proof system that would evolve with our business and meets the requirements of the Austrian Legal Authorities. Calypso's state-of-the-art, modern architecture met our needs."

Charles Marston, Chairman and CEO of Calypso, said: "We are delighted that Constantia Privatbank has chosen Calypso as strategic platform for their capital markets expansion. The Germanic region is of growing importance to Calypso, and we continue to gain new clients as our local presence in the area becomes more established."

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