BayernLB, headquartered in Munich, one of the leading German banks has selected FinOffice5 ASP Solution from BST to manage their market data inventory.
Instead of accessing an on-site FinOffice database via client/server access, BayernLB's market data administration staff will manage data usage, user profiles and reporting via Citrix thin clients. These thin clients are directly connected to the BST data centre in Zurich. BST is running the data centre on two physical locations to ensure data continuity. Administrators have access from both locations remotely maintaining all hosted databases.
The project began in December 2008 and was completed at the end of July 2009. BST supported BayernLB through the migration and consolidation of the new FinOffice5 ASP platform. The platform consists of the FinMarketData and FinContract modules. The system will manage global market data inventory, vendors, users, costs and contracts and is fully hosted by BST.
FinOffice5 ASP was selected based on BST's ability to provide customization to standardized interfaces and because BST could deliver automated data possessing. Among other interfaces, BayernLB is using BST's Reuters DACS 2-way interface as well as the Bloomberg SID interface. The FinOffice5 ASP Solution will seamlessly integrate into the BayernLB platform.
Werner Burger, Head of BayernLB's Market Data says; "We are very pleased with the professionalism BST provided for this project. BayernLB is fully confident that FinOffice5 - FinMarketData will allow us to better manage our Market Data usage and to control the costs in this area more efficiently. In fact, by the end of the project, we achieved the perfect cost transparency showing massive saving potentials that now can be executed and tracked by FinOffice." "In the end, says Philipp Meier, Director of BST, given the level of automation of BST's FinOffice5 solutions combined with the expertise of BST's project support, we were considered to offer the best solution to meet BayernLB's requirements."
BST can also provide, separately or as an integrated solution, FinOffice5 - FinTelecom, annTelecom, an inventory system created for telecom expense management purposes.
BST is very pleased to count BayernLB as one of its newly won customers. BST continues to be responsive to the individual needs of its customers long after the initial implementation project. Founded in 1989, BST has offices in New York (BST America), London (BST Europe), and Zurich (BST Banking Software Training AG).