Linedata (NYSE Euronext: LIN), the global solutions provider dedicated to the investment management and credit industries, has announced the launch of its new SaaS (Software as a Service) offering for Linedata Chorus. This new deployment option has been chosen by discretionary fund management specialist OFI Mandats to enable it to reinforce its own administrative, accounting and regulatory management services for its insurance and health insurance customer base.
Today, institutional investment management services face three key challenges: to fully integrate the capital optimization constraints imposed by Solvency II requirements in the management and administration of financial performance, to adapt to the decline in bond market returns through an increasingly diverse investment universe, and to offer new discretionary services that ensure management strategies conform to customer goals whilst maintaining the scope for flexible and responsive portfolio management. Against this backdrop, specialists in financial management and fund administration seek to provide their clients with custom-fit services. Global and modular solutions vary from tactical or profile-based strategic allocation to portfolio administration, performance and risk management and legal reporting.
"We have three objectives" said Pascale Gabriel, Head of Information Technology for OFI Group. "To capitalize on the business expertise of the back office team at OFI Mandats and its experience in using Linedata Chorus, to relieve our customers of their technical and functional administrative tasks so that they can concentrate on their core businesses, and to modernize and secure the IT solutions we provide. To achieve these goals, we have designed a comprehensive, modular and open offering that uses Linedata Chorus and is hosted by Linedata, but where we manage its configuration and future development. In short, we offer our customers a fully customized and secure 'thin-client’ environment".
"We set out to renew our hosting solution by drawing on the latest technological innovations in cloud computing to enable us to meet the new availability requirements of our major clients," said Thierry Soret, Linedata Managing Director for Southern Europe, Asset Management, Savings and Insurance. "We are proud to have designed a multi-environment, integrated architecture where each of our customers benefits from the pooling of our resources, and is guaranteed complete security and scalability at optimized operating costs".
As the market leader in hosting solutions for financial software, Linedata's 130-plus customers account for 40% of France's institutional investments market.
Linedata’s comprehensive service offerings include:
- Administrative and accounting management and legal reporting with Linedata Chorus;
- Decision support and ad hoc reporting with Linedata Chorus Results;
- Portfolio management and trading with Linedata Longview, which is closely integrated within Linedata Chorus to ensure that the specific constraints linked to insurance investments are fully taken into account;
- The publication of financial information via Linedata Nile. Managed by Linedata and shared among its clients, Linedata Nile provides all of the market data needed, including the new attributes required for Solvency II calculations and regulatory reporting.
Linedata's SaaS offering is structured around several service levels, including providing customers with redundant back-up sites that are replicated in real time and ensure seamless business continuity in the event of a disaster. To make its offering even more transparent, Linedata applies key performance indicators at each service level that enable it to monitor the quality and consistency of its customer services and to insure that they are delivered on time, as well as to rapidly scale resources to respond to major changes in activity.
Virtually all Linedata Chorus customers have chosen to adopt these solutions as part of a SaaS offering which includes a highly secure hosting solution, with full operating management that includes the integration of new versions and a dedicated user support service.