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Exchange Finans selects new banking platform from IDEALINVENT To allow for continued expansion and offering an expanded range of products and services in Sweden and later on to new markets, Exchange Finans opted to invest in a new banking platform from IDEALINVENT. IDEALINVENT was chosen amidst stiff competition from other vendors. With Corniche Banking Solution and DataMatrice™, Exchange Finans will get a scalable solution with support for teller operations, loans, deposits, cards, domestic and cross border payments. The solution also includes support for reports, AML and analytical CRM. “The main reason for the choice of the Corniche Banking Solution is that the system is well suited for our business needs. It is important for us to choose a provider that can help in the further development of Exchange Finance," said Umit Adis CEO, Exchange Finans. Important in the selection has also been IDEALINVENT's knowledge and understanding about the industry. “Agreement with Exchange Finans strengthens our already strong presence in the Nordic and Baltic countries and is also strategically important because Exchange Finans will be the first customer for our new cohesive product line Corniche Banking Solution," says Mats Esbjörnsson, Director IDEALINVENT AB. IDEALINVENT’s Swedish Team will lead the project with technical support from its India Development Centre at Bangalore and strategic partner, Megasol Technologies, Sweden. Exchange Finans was founded in 1996 in Stockholm by Umit Adis and Kenan Anter. Exchange Finans is one of Sweden’s leading currency changer, and credit market company with 10 centrally located branches and 75 employees .The company provides cash handling, loan and deposit services with the state-provided guarantee of deposits More information about Exchange Finans at: http://www.exchangefinans.se/ DataMatrice™ selected as preferred Data Transformation tool by Bank SNORAS DataMatrice™ a unique data management tool developed by IDEALINVENT technologies has received another feather in its cap. It has been selected by Bank SNORAS, Lithuania for migrating data from the new core banking system to new accounting system (Finstudio, by Finarch) being implemented. Bank SNORAS has selected DataMatrice™ for its ability to comprehensively handle all data transformation requirements including regulatory reporting. IDEALINVENT team would also render professional services in analyzing and handling end-to-end data migration activity for the bank. DataMatrice™ is a data management tool that seamlessly handles reporting, interfaces and customer outputs to meet the specific needs of the BFSI sector. DataMatrice™ is designed to meet industry specific requirements (like SEPA, PATU, SWIFT etc) for interfacing with clearing exchanges, utility payment service providers, electronic-post offices as well as handle rate uploads. It provides a payment gateway to handle protocols and has detailed back reporting ability for all transactions. DataMatrice™ can be configured to automatically execute routine end - of - cycle processes and report status messages through email or SMS. Within eighteen years of its establishment, Bank SNORAS has become one of the largest banks in Lithuania. Having the most expansive and state-of-the-art territorial customer service network in the country - 10 regional branches of the bank, 13 branch outlets, 232 territorial units and 338 ATMs - AB Bank SNORAS has successfully consolidated its position in the Lithuanian retail banking market and has expanded its reach in the European Union member states. IDEALINVENT selected as consulting partner for implementing Finstudio - Financial Data Warehouse - by Bank SNORAS IDEALINVENT has added a new dimension to their consulting business - implementation of financial data warehouse for banks. IDEALINVENT has been selected by Bank SNORAS as Consultants for implementation of FinStudio - a Financial Data Warehouse application from FinArch. IDEALINVENT team would be working along with Bank SNORAS and FinArch Consultants to implement the solution for Bank SNORAS for their upcoming branch in Latvia. The current phase of the project is for Latvian Central Bank Regulatory reporting. IDEALINVENT consultants will work on the Analysis, Design of Templates, Creation of Standard Records, Capture and Allocation rules and on the Handoff to Central bank. This paves the way to create synergy between FinArch and IDEALINVENT to explore further markets and coordinated strategies for FinStudio implementation. This also is evidence of the great relationship that has been established between IDEALINVENT and Bank SNORAS and demonstrates the confidence and faith that the bank has in IDEALINVENT's ability to successfully execute a project. DataMatrice™ chosen as migration tool by Bank DnB Nord, Denmark Bank DnB Nord has chosen DataMatrice™, data transformation solution from IDEALINVENT as the data management and transformational engine for its new multi-country core banking roll out. DataMatrice™, with its proven abilities to extract, transform and manage data specifically crafted for banks, is being used as the data migration tool to migrate data seamlessly from legacy system to the new core banking platform. The bank was able to achieve success on a single switch migration with data being transformed to suit the new system seamlessly using DataMatrice™. The success of DataMatrice™ in migrating one of the country locations has prompted the bank to deploy such migration techniques for the entire rollout for their multi country migration strategy. "The IDEALINVENT team proved adept at transforming legacy data into the required formats for migration. Using DM they provided an efficient and clean data transformation enabling the project to meet tight deadlines during migration weekend." DataMatrice™ has been selected by Bank DnB Nord to handle all data management also used by the bank as engine to handle various data transformation needs for interfaces to financial data warehouse and other systems and regulatory bodies. With unique abilities to configure business rules for data extraction from various systems, transform them into required formats and exchange them with other systems and external environments the bank aims to make considerable savings on development and fine tuning cost associated with data handling. DataMatrice™ has been selected by a large Nordic branch for migration from their legacy systems to the new core banking system being implemented. Our team will also render professional services in analysing and handling the entire migration activities for the bank from end to end. This is will happen in stages beginning with one country and is set to roll out for all the countries that the project aims in accomplishing - which is slated to last over the next 18 - 24 months. DataMatrice™ powers data transformation for the largest savings bank in Spain DataMatrice™ is being used by the largest savings bank in Spain in two installations to comprehensively handle all data transformation requirements including local clearing, regulatory reporting and head-office reporting. This implementation was carried out by us along with Everis, a Spanish integration company. DataMatrice™ with its unique functionality to configure data extraction and transformation rules for banks, has assisted the bank in achieving a quick go-live for their international expansion in record time and reduced costs. |