The Norwegian Banks’ Guarantee Fund enhances analytics and data management to meet new requirements.
NEW YORK and LONDON – Oct. 9, 2012.
Xenomorph, the analytics and data management solutions provider to global financial institutions, announced today that Bankenes Sikringsfond, the Norwegian Banks’ Guarantee Fund, has selected its TimeScape system to satisfy requirements for a centralised analytics and data management platform.
The fund’s investment decisions are based on both fundamental and quantitative analysis. Driven by the need to manage greater amounts of data transparently, Bankenes Sikringsfond was looking for a powerful system that could link together multiple sources of data and perform proprietary analysis for distribution to the fund management team, enabling faster decisions based on consistent, high quality and auditable data and analytics.
Xenomorph’s TimeScape was chosen for its ease of use and flexibility, as well as the unique data model’s capability of handling and integrating any asset class effortlessly. Using TimeScape, the fund will be able to store, clean, validate and analyse all kind of data sets – including the most complex curves and surfaces and spreadsheet-like calculations – and add analytics of their choice, in addition to the hundreds of built-in analytical functions that come as standard.
“TimeScape is an easy-to-use and powerful tool. Without large upfront time in IT investment, we are able to hit the ground running using the system in a highly scalable fashion. We now have a central source of information that is processed efficiently – large amounts of calculations and tasks can be performed automatically,” says John de Courcy-Bower, Execution Trader, Bankenes Sikringsfond.
By improving the quality of the data and analytics feeding the system, fund managers have been able to promptly identify and manage the dynamic risks affecting their portfolios and each investment’s risk premium.
“We are delighted to have been chosen by Bankenes Sikringsfond and look forward to strengthening our relationship with them,” says Matthew Skinner, COO, Xenomorph. “With ever-changing regulatory requirements, our clients need a robust and scalable solution to better manage, explore and understand their data quickly. Our focus is to empower financial institutions with the tools to take control of their data.”
Notes to editors
About Bankenes Sikringsfond
Membership of the Norwegian Banks’ Guarantee Fund is mandatory by law for all savings banks and commercial banks with headquarters in Norway.
The purpose of the Guarantee Fund is to secure the deposit liabilities of its members in such a way that deposits of up to NOK 2 million per depositor per bank are guaranteed, should a member be unable to meet its commitments.
The Fund also has a department tasked with managing the assets of the Fund and securing the best possible return on capital. As well as implementing the strategic decisions adopted by the Board, the department has asset management responsibility in its own right and supervises external asset managers.
Xenomorph delivers analytics and data management (ADM) 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, brokerages, insurers, hedge funds and asset management companies worldwide. Established in 1995, Xenomorph has offices in London, New York and Singapore.
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.