Press release: for immediate release
LBBW chooses Xenomorph for data management in risk control
London, 5 August 2009
Landesbank Baden-Württemberg (LBBW) has selected Xenomorph’s TimeScape data management system for use within its group risk control department. TimeScape was chosen to meet LBBW’s need for greater data transparency, higher data quality and faster access to ever-increasing volumes of market data.
“We had a requirement for a data management system that would give us much greater data transparency across the different departments,” said Peter Westphal, Project Manager from the risk control team at LBBW. “TimeScape meets these demands – increasing our capacity to centralise, store and consolidate multiple data sources, as well as increasing the speed with which this data can be analysed. The risk control team has the flexibility to create bespoke validation tests quickly. This delivers increased productivity not only within the risk department but across the whole organisation, as data is being published to lots of other departments, too.”
TimeScape offers an added dimension to data management as it is able to directly support unstructured data such as spreadsheet-like calculations in addition to supporting new and complex derivative data structures with ease.
“We are delighted that TimeScape has been chosen by LBBW – their choice validates our aim to develop a data management system that supports large volume, highly complex data in an easy-to-use and transparent manner” said Brian Sentance, CEO of Xenomorph. He added: “Data transparency is a large but underrated issue within data management, and TimeScape makes data and analysis available to both non-technical and technical users alike, increasing productivity across the enterprise.”
Notes to editors
About Landesbank Baden-Württemberg (LBBW)
Landesbank Baden-Württemberg (LBBW) is an international commercial bank, as well as central banking institution to savings banks in Baden-Wuerttemberg, Saxony and Rhineland-Palatinate. With total assets of EUR 448 billion and over 13,300 employees (as of 31/12/2008), LBBW is one of Germany’s five largest banks and is the most important by far in its core Baden-Wuerttemberg market.
In addition to its private customer business and its client-oriented capital markets business with banks, savings banks and institutional investors, LBBW focuses on providing comprehensive service to small-to-medium sized enterprises and corporations in order to meet all of their financing needs. Together with its regional retail banks, Baden-Württembergische Bank (BW Bank), Rheinland-Pfalz Bank and Sachsen Bank, LBBW serves more than one million private customers and 27,000 corporate customers – long serving as primary banking institution for many - in its over 200 branch offices. For small-to-medium sized enterprises, receiving support in the tapping of international markets, as well as having access to expertise in innovative and complex financing, is crucial. In order to carry this out, LBBW maintains a network of 26 offices worldwide. Specialised subsidiaries - such as in the areas of leasing, factoring, real estate and asset management - complete the LBBW group’s in-house range of products and services.
About Xenomorph
Xenomorph delivers data and analytics management solutions to the financial markets. Our TimeScape technology enables our clients to manage and analyse more data with greater control and transparency. Through unified and transparent access to data and data analysis, our clients achieve even higher levels of financial innovation, business process efficiency and regulatory compliance.
Trading, research, risk, product control, IT and back-office staff use Xenomorph’s TimeScape cross-asset data management platform at investment banks, hedge funds and asset management institutions across the world’s main financial centres. Established in 1995, Xenomorph has offices in London and New York.
For more information on Xenomorph, our clients, services and solutions, please see www.xenomorph.com.
Xenomorph® and TimeScape™ are registered trademarks of Xenomorph Software Limited. Other product and company names herein may be trademarks of their respective owners.
For sales enquiries please contact:Brian Sentance |
For further press information and photography please contact:Sara Verri |