Austria’s Raiffeisen group picks new wealth platform

Swiss firm Profidata’s e-AMIS Wealth Management System has been selected as the principal platform for asset management at the Austrian Raiffeisen banking group.

Two firms, the Raiffeisen Vermögensverwaltungsbank AG Vienna (RVV) and the Raiffeisen Salzburg Invest Kapitalanlage GmbH (RSI) have adopted the solution.

The RSI applies the system in order to manage Raiffeisen portfolios in the trading area of Salzburg, whereas the RVV uses e-AMIS to administrate client mandates from Raiffeisen banks in the remaining federal states.

The firms say the installation of the system has enabled the establishment of an entirely automated investment process. Within minutes, up to 3,000 portfolios can be rebalanced against model portfolios and pre-trade compliance checks completed.

The orders resulting from the rebalancing are then relayed to the affiliated banks for execution and the respective execution messages received.

The firms say the e-AMIS system deals with the challenging task of incorporating portfolios from all banks in the rebalancing which are subsequently separately integrated into global market orders. In addition, the detailed order books are simultaneously made available to all respective banks.

Furthermore, periodic and MiFID-compliant client reporting is generated with e-AMIS, and the system will maintain the Raiffeisen Wealth Management internet portal on a daily basis by supplying comprehensive asset and performance data.

Profidata Group has more than 70 clients in Europe using the software products XENTIS and e-AMIS. The group headquarters and software development centre are located in Urdorf, near Zurich, with further offices in Frankfurt / Main, Saarbrucken, Luxembourg and London.

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