strategic alliance to develop an improved and less expensive alternative to global risk management systems.
BASISPOINT and ALOC Bonnier have jointly developed a new system for risk
management aimed at banks and other financial institutions. The system is based on the knowledge contained in the portfolio management system, PORTMAN by ALOC
Bonnier and the finance modules developed by BASISPOINT and used in their tailored solutions for large financial institutions, primarily in Germany. New knowledge has been added along with new functions.
Mikael Munck, CEO of ALOC Bonnier, says, "Our new solution has the potential to become one of the most widely used systems of its kind, also outside of the Nordic region, as we are able to offer the solution at a significantly lower Total Cost of Ownership than the other solutions on the market, which typically lead to a ten fold increase in total costs for a similar solution. Also
our direct maintenance and support costs are at a significantly lower level than
what is considered the norm. This gives an attractive total price for our clients."
SÃ¸ren Braes, CEO, BASISPOINT adds,
"Our new common solution can become highly important for the part of the banking
world, who wish to perform professional risk management, and who do not have
access to the kind of investment budgets which up until now have been required to live up to the legislative requirements. High system expenses and extensive
legislative requirements have been contributory factors in a large number of bank mergers and general consolidation in the banking industry around Europe. Once the new, more differentiated rules regarding risk management are applied in 2007, small and medium sized banks will be under further pressure. In this connection, our common solution with ALOC Bonnier will contribute to making life easier for a great number of banks."
Mikael Munck and SÃ¸ren Braes emphasize that large as well as small banks can use
the common solution.
Development started in May 2003 when the two companies decided to enter into
close co-operation. The first solution was delivered at the beginning of 2004 to a large Danish bank. Now, the solution will be offered to other banks in Denmark, the Nordic Region and Europe.
BASISPOINT and ALOC Bonnier are both specialists in financial software. Both
companies are Danish and both have international experience. BASISPOINT is strong on the German and Central European markets, where they have delivered solutions to Deutsche Bank and the treasury departments of three German states.
ALOC Bonnier holds a strong position on the Danish market with 120 clients in the financial industry and is currently realizing a growth strategy in the other Nordic countries through, among other things, acquisition of companies.
Management of the two companies are ready to take on the competitors on the
market. CEO, SÃ¸ren Braes from BASISPOINT has more than 15 years of experience
within the finance industry. Prior to founding BASISPOINT ten years ago, Mr. Braes was executive consultant in the listed company, SimCorp that also works with financial software. Prior to joining ALOC Bonnier two years ago, CEO, Mikael Munch headed up the Nordic branch of the American corporation, Sungard, the world leader within the area.