Bayerische Landesbank (BayernLB) has chosen Profidata’s XENTIS software to optimise its entire custodial processes.
For the technical implementation, BayernLB is collaborating with its wholly owned subsidiary, BayernInvest.
BayernInvest already utilises XENTIS, which handles all the core tasks for capital management companies and custodians, and digitises and automates the relevant processes, such as fund accounting and investment limit controls.
Stefan Hoerpel, head of department for custody services for the group’s own capital management companies at BayernLB, said: “We are confident we have made an excellent choice in XENTIS, a market-leading product that is the best solution for us.”
He added: “An important factor in choosing the software was also that XENTIS is very well established in the German custody services market. The new solution significantly boosts our performance capacity and thereby further increases security and efficiency for customers of BayernLB.”
Johann Maurer, head of department for custody services for the non-group capital management companies served by BayernLB, commented: “In the past, I’ve been consistently impressed by the powerful functionality and user-friendliness of XENTIS.”
He added: “As one of the first users among German capital management companies and custodians, I can look back on many years of positive experience with XENTIS.”
“I am delighted that BayernLB is now switching to an innovative, versatile and well- established fund accounting system so that it is extremely well equipped to meet the future challenges of the custody services market.”
Roger Wildi, CEO of Profidata, said: “Managing funds for custodians and capital management companies is one of the core functions of XENTIS. We will, therefore, continue to make selective investments in this area to ensure we can provide our customers with effective support in future in performing their tasks.”
He added: “We are delighted that BayernLB has made the switch to using XENTIS for managing and optimising its custody services.”
