FRONT ARENA will be rolled out to around 500 positions within the bankâs sales distribution, trading, risk management and back-office departments. HVB Group aims to leverage its investment with more extensive use of FRONT ARENAâs straight-through-processing capabilities.
A strategic development partnership will combine HVB Group's capital markets expertise with Front's ability to adapt the solution quickly to new market requirements. Prioritising systems integration and future infrastructure development, the partners have agreed on a middleware-based component architecture, which will support further platform enhancements.
Reinhard Eschbach, chief information officer for Corporates and Markets at HVB Group, stated, "Under the agreement, we succeed in securing the long-term efficiency and cost benefits of a âbuyâ solution, while also retaining a direct influence on the product development. Front has an in-depth knowledge of our unique business challenges and has continuously proven its commitment to this partnership by evolving FRONT ARENA in line with major industry changes."
Jonas LindstrÃ¶m, CEO of Front Capital Systems, commented, "The commitment from HVB Group will be honoured by further investment in our local support structure. This, in turn, will enable us to continue to deliver a functionally superior front-to-back, cross-asset-class solution."