Aquin has successfully implemented its investment compliance software MIG21 to optimise risk controlling processes at BNP Paribas Investment Partners (BNPP IP), the investment management business line of one of the largest international banking networks.
Aquin is a software solutions provider to the international asset management and fund industry. Its investment compliance solution MIG21 distinguishes itself through its great flexibility, high degree of automation and speedy integration.
MIG21 went live in the Paris operations of BNPP IP in late 2007 performing the ex-ante checking for a first set of asset classes. After this successful installation, BNPP IP is now extending its ex-ante checking to the other asset classes traded in Paris and is planning to implement MIG21 in other geographies.
BNPP IP has 348 billion Euro in assets under management (September 2007), including assets under advisory. With 2,000 professionals servicing clients in over 70 countries, BNPP IP was looking for a flexible and efficient solution that would meet the requirements of its various business lines and cover all major jurisdictions. MIG21 facilitates ex-ante checking of legal, statutory and internal investment guidelines in one single system thus reducing the cost and time of investment process controls.
Automated and fast investment compliance
BNPP IP has opted for Aquin's MIG21 investment compliance solution after a thorough selection process. Important criteria for choosing MIG21 were its high performance in a challenging environment with multiple front office and OMS platforms connected to the system, its unlimited rule setting capacities and the quick and easy installation and integration process. Moreover, Aquin's compliance solution provides comprehensive investment oversight for all new and existing asset classes including structured products and funds of funds.
The system was also selected for its flexible rules engine. It was important for BNPP IP to have the ability to adapt its compliance function according to changing circumstances. The constant development of regulation within Europe and the potential to expand into new geographies were important considerations when the project to enhance the compliance function was conceived.
The implementation of MIG21 provides for an unbroken control chain of BNPP IP's entire investment process. The fast and thorough investment compliance monitoring gives Aquin customers a competitive edge and improves rating agency confidence.
"Having researched a number of potential solutions for our compliance needs we selected Aquin's MIG21 as the best offering and are delighted that it has been implemented so quickly. The geographical diversity of BNP Paribas Investment Partners' offices requires a highly adaptable and scaleable product as provided by MIG21", comments Alexandre Karras, Chief Information Officer of BNP Paribas Investment Partners.
"We are proud to count such a famous financial institution as BNPP IP amongst the users of MIG21. To have a client of this size with such a broad network is further evidence for the market that Aquin is a market leader in investment compliance" comments Philippe Smolders, Country Manager of Aquin France.