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Fortis selects INFOmatch for managing market data costs

Belgian-Dutch financial services provider Fortis has decided to implement INFOmatch, the cost & contract management application, to manage its market data expenditure. The system is currently rolled out at Fortis’ headquarters in Brussels.

AMSTERDAM and BRUSSELS, June 6, 2006 – Screen INFOmatch, independent experts in market data and providers of market data management solutions, today announced that Fortis has decided to use INFOmatch to manage its market data inventory. INFOmatch will initially be used to manage Fortis’ market data costs in Brussels, Amsterdam and Luxembourg. The database will hold profiles from around 2000 market data end-users. At a second stage, the scope might be extended to other countries.

“For our market data consultants it is vital to have management reports available by mouse-click. In addition, we wish to avoid manual updates and the risk of incorrect data entry”, says Cor Breur, Global Market Data Coordinator at Fortis. “We therefore want interfaces to systems holding the same data in order to synchronise databases. We have closely monitored the developments of the latest INFOmatch release, which proves to match our requirements. We are convinced that INFOmatch is the best system to support our market data management process.”

“We are delighted to welcome Fortis as a customer”, says John Lathouwers, Global Head of Product Marketing. “The Fortis market data team has an excellent reputation and excels in their continuous optimisation efforts. We value that we have been given the opportunity to show them INFOmatch’s capabilities. As we started talking some months ago, we learned that the system Fortis used didn’t meet their requirements, particularly with respect to reporting, analysis and interfacing. As a result, their market data consultants failed to have the right tools to do their job. They were surprised though, to learn that the requested functionality is incorporated in INFOmatch’s basic system.”

Fortis will use the system for market data contract management, cost allocation, permissioning, budgeting, user profiling and for detecting savings opportunities. INFOmatch interfaces with Fortis’ HR databases, holding data from some 60,000 employees. The HR data in INFOmatch is synchronised with the HR databases on a monthly basis. The flexibility of the system avoids the development of proprietary interfaces. Fortis therefore benefits from INFOmatch’s characteristics, which guarantee a low-cost, fast time-to-market implementation and interfacing.