Eagle Investment Systems LLC, a leading provider of financial services technology and a subsidiary of BNY Mellon, today announced that Desjardins Asset Management, the investment management specialist of Desjardins Group, the leading cooperative financial group in Canada and the sixth largest in the world, has implemented its data management solutions on Eagle ACCESS(SM) for its asset management business.
The key driver for deploying the Eagle platform was Eagle's commitment to collaborate with Desjardins Asset Management to build out International Financial Reporting Standards (IFRS) requirements in support of Canadian and global financial reporting standards that have taken effect. Eagle introduced IFRS support in its V10.0 software version which was released in 2009, and it continues to add functionality to further address client needs for international financial reporting standards. Eagle's data management platform was selected to provide a foundation for future integration of Desjardins Asset Management's other applications and business needs.
"Eagle's innovative technology and continued investment in research and development are reasons we selected Eagle. A significant aspect of this decision was based on our collaboration with Eagle to support its build out of IFRS," said Gregory Chrispin, chief operating officer, Desjardins Asset Management. "Our previous technology was not current with IFRS or the instrument coverage necessary to grow our business, so it was important for Desjardins Asset Management to move onto a new data management platform and investment accounting solution."
"We are seeing significant interest from firms both in Canada and globally that are seeking systems to improve their operational efficiency and workflow by implementing a single integrated asset management platform, rather than working with systems that require multiple integration points and interfaces," said Mal Cullen, Eagle's head of Canadian Operations and Eagle ACCESS(SM).