NeoXam has been chosen by Münchener Hypothekenbank eG (MünchenerHyp), a property financing based firm in Munich, to house all its data and administration in one platform, with NeoXam’s DataHub.
According to NeoXam, MünchenerHyp has chosen this solution for its scalability and flexibility in the face of current and future regulatory requirements.
The solution, that was implemented with German consulting firms Finbridge and FORRS, now enables the company to automatically process all the financial market information it uses and reduce the level of operational risk by providing a clear audit trail and considerably improved data quality.
Thomas Raab, project manager at MünchenerHyp, said: “It’s difficult to find a solution which offers both excellent data models and a high level of flexibility, and this is what made NeoXam’s DataHub the best solution for our needs.”
He added: “We are looking forward to working with this model and are confident that the solution’s capacity to cope with huge volumes of data and process workflows means it will support us through future growth and business evolutions in accordance with the regulatory requirements.”
Florent Fabre, managing director and COO at NeoXam, commented: “With the increased regulatory reporting requirements, banks are now looking for a simple way to access all of their data in one place rather than having to pull data from multiple parts of the business.”
He added: “By deploying DataHub, MünchenerHyp will avoid any regulatory or data management headaches, whilst also having a scalable solution which can grow with them.”
