NEW YORK, September 30 /PRNewswire/ -- Asset Control, a world-wide leader in financial data management solutions, today announced that Germany's largest retail bank Postbank has chosen Asset Control's AC Plus financial and reference data management software.
Postbank will use Asset Control to provide quality controlled pricing data to the bank's risk control department and support its Internal VaR (Value at Risk) Model for market risk. Postbank required a solution that could be implemented to meet its time-to-market objectives, while requiring only minimum IT resources in the day-to-day management of the system.
Dr. Guenter Fiebach, head of risk control at Postbank, said, "We chose Asset Control because the solution's template-driven infrastructure will ensure a simpler initial implementation and allow us to meet our required timelines. The solution also provides a sophisticated workflow that will enable us to automate our data management processes ourselves over time. In addition, Asset Control has a strong, recognized customer base in Germany, and therefore has a unique understanding of the local financial and regulatory environment."
Phil Lynch, Asset Control's president and chief executive officer, said, "Asset Control's strong presence in the German financial markets and proven record for reliability and resilience of our solutions will benefit Postbank today and in the future as their data management needs evolve. We are delighted that Postbank has chosen Asset Control, and we look forward to helping them to achieve enhanced growth and success."
With 14.2 million active domestic customers, approximately 21,000 employees and total assets of EUR229 billion, Deutsche Postbank Group is one of Germany's major financial services providers. Its focus is on retail business with private customers. It is also active in the corporate banking sector. In its "Transaction Banking" division, it performs back office services for other financial services providers. For more information, visit http://www.postbank.com.
About Asset Control
Asset Control provides centralized data management solutions for financial institutions worldwide. From business-entity to firm-wide projects, Asset Control offers a strategic reference and market data platform that delivers the accuracy, consistency and relevancy firms need to reduce costs and risk, manage evolving compliance needs, and accelerate the delivery of new products and services. A Fidelity Ventures company, Asset Control serves some of the world's most successful financial institutions including Barclays Global Investors, Wachovia Corporation, JP Morgan Chase, LCH.Clearnet, E*TRADE Securities and Grupo Santander. For more information, visit http://www.asset-control.com.
Trademark Information: Asset Control, the Asset Control logo and AC Plus are trademarks or registered trademarks of Asset Control Systems, Inc. or its subsidiaries or affiliates in the U.S. and/or other countries. All other trade names are trademarks or registered trademarks of their respective holders.
Press Contact: Deborah Overdeput,VP, Marketing & Product Management, Asset Control, +1-212-445-1076, firstname.lastname@example.org