Germany's Augsburger Aktienbank awards core banking deal to Kordoba
KORDOBA GmbH, a division of Fidelity National Information Services, Inc. (FIS), a worldwide leader in processing and technology solutions for financial institutions, announced today that Augsburger Aktienbank AG has signed a long-term outsourcing agreement based on KORDOBA's market-leading core banking and global securities applications, K-CORE24 and K-Global Securities.
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One of the oldest direct banks in Germany, Augsburger Aktienbank has become one of the most important financial execution partners in Germany, offering customers a diversified portfolio of financial investments including traditional banking products, funds and securities. In addition to traditional banking, they administer a multibillion Euro portfolio on behalf of investment trusts, asset managers, sales organizations and real estate pools. Augsburger Aktienbank is a wholly-owned subsidiary of LVM Group.
"After a thorough technical and business evaluation of the core banking and securities software in the market, we selected the KORDOBA solution," said Joachim Maas, member of the board, Augsburger Aktienbank. "The decisive factor was the competitiveness of the KORDOBA solution and its fit with our specific requirements. KORDOBA's future-oriented IT infrastructure facilitates process optimization while helping us accomplish innovative business initiatives."
"We are extremely pleased to welcome Augsburger Aktienbank as the newest KORDOBA and FIS customer," said Barry Dark, managing director of KORDOBA. "The bank's rigorous business and technical requirements were a good fit with our architecture, software products and outsourcing delivery solution. We look forward to working with them in the coming years as they innovate and grow their business."