Deutsche Postbank Selects Asset Control for Market Data Management

30 September 2008

Asset Control, a world-wide leader in financial data management solutions, today announced that Germany’s largest retail bank Postbank has chosen Asset Control’s AC Plus financial and reference data management software.

Postbank will use Asset Control to provide quality controlled pricing data to the bank’s risk control department and support its Internal VaR (Value at Risk) Model for market risk. Postbank required a solution that could be implemented to meet its time-to-market objectives, while requiring only minimum IT resources in the day-to-day management of the system.

Dr. Guenter Fiebach, head of risk control at Postbank, said, “We chose Asset Control because the solution’s template-driven infrastructure will ensure a simpler initial implementation and allow us to meet our required timelines. The solution also provides a sophisticated workflow that will enable us to automate our data management processes ourselves over time. In addition, Asset Control has a strong, recognized customer base in Germany, and therefore has a unique understanding of the local financial and regulatory environment.”

Phil Lynch, Asset Control’s president and chief executive officer, said, “Asset Control’s strong presence in the German financial markets and proven record for reliability and resilience of our solutions will benefit Postbank today and in the future as their data management needs evolve. We are delighted that Postbank has chosen Asset Control, and we look forward to helping them to achieve enhanced growth and success.”

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