LUKB Expert Fondsleitung AG, the fund management subsidiary of Luzerner Kantonalbank AG (LUKB), has opted for the hosted variant XENTIS cloud (Xcloud) provided by Profidata Group (Profidata). LUKB joins the ranks of other Swiss cantonal banks already using XENTIS as their investment management system.
A rigorous evaluation process helped to convince LUKB Expert Fondsleitung AG of the obvious merits of Profidata’s service offering. Apart from the functional advantages offered by XENTIS, it was important for the Lucerne-based fund manager to be able to choose between the on-site and hosted solution (Xcloud). One of the key reasons for choosing Xcloud was the convenient, standardised access to a ‘best-practice’ version of XENTIS,without having to take over the system operation. LUKB Expert Fondsleitung is able to use the system in a data centre that is compliant with the requirements of the Swiss Financial Market Supervisory Authority FINMA. The delivery of securities master data and market data to XENTIS is another service provided by the Xcloud solution, via the interface to SIX Financial Information. XENTIS will play a key role at LUKB Expert Fondsleitung as the main platform for fund administration and bookkeeping. Other features that won over LUKB to XENTIS include the control of investment limits and the modelling of regulatory reporting, such as statistics for the Swiss National Bank, the Key Investor Information Document, the stamp ledger and the annual and semi-annual reports.
Gregor Zemp, Managing Director of LUKB Expert Fondsleitung AG, is a convert: 'Our fund management processes can be expertly implemented in XENTIS and thus automated to a large extent. Profidata’s Xcloud solution also enables us to accommodate additional requirements in a swift, uncomplicated manner. With Profidata, we feel we are perfectly catered for as a member of the XENTIS community.
' Peter Klein, a member of Profidata Group’s management board, is delighted to have acquired another leading investment management company: 'LUKB Expert Fondsleitung AG’s decision to use Xcloud bears witness to the strength of Profidata’s software and service offering. All financial service providers are facing increasingly complex regulatory hurdles and customer-specific requirements which can only be satisfied by using professional software. Assuming additional functions, such as hosting and data management, also simplifies our customers' day-to-day business.'