MDSL, the leading provider of international Market Data Management and Telecom Expense Management solutions announced today that Danske Bank has signed an agreement to take its Market Data Manager market data inventory solution.
Danske Bank is the largest bank in Denmark, but also employs traders in Norway, Sweden, Finland, Baltics, UK, Ireland and USA. It joins a growing list of MDSL financial services clients.
MDSL is providing Danske Bank with a hosted market data management solution, including its optional Self-Certification module. Danske Bank will benefit from accurate invoice reconciliation, reporting both to finance and to the business, as well as from full permissioning control integration. In addition, the MDM Self-Certification option will generate significant cost savings for the Bank through its frequent end-user inventory reviews.
Ben Mendoza, MDSL CEO and founder, commented: "The story of how Danske Bank came to select MDSL makes interesting reading. Following an initial enquiry, the decision came down to a choice between us and the incumbent provider's own inventory management system. Danske Bank ran a pilot project and we were delighted to learn MDSL came out the clear winner on the strength not only of our product features and innovation - in particular, the scope and clarity of our reporting tools - but also our international capabilities".
Other key elements in Danske Bank's choice were the multi-currency features built into Market Data Manager, MDSL's 24 x 7 global customer service, and MDSL's ability to offer support and account management from its Northern Europe office, based in Gothenburg.
Ben Mendoza added: "We are delighted that Danske Bank has decided to partner with MDSL. We are working hard to keep ahead of the constantly changing waves of new development and increasing sophistication in the market data arena, and this is a gratifying reward for and recognition of our efforts. This is an area in which MDSL has been involved from the outset and we are very pleased to add Danske Bank to the roster of leading financial institutions utilising our solutions."