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NIBC LEVERAGES EFRONT’S PRODUCT HOSTING SERVICES
In 2015, NIBC decided to orient its IT strategy towards hosted software solutions, moving away from on premise models. At that point in time, there were more than 300 systems and applications running on premises. As a leading bank, though, NIBC was faced with the highest levels of regulation and security compliance. In order to implement a hosted software solution, NIBC’s IT team would need a detailed knowledge of the different systems involved.
In 2015, NIBC decided to orient its IT strategy towards hosted software solutions, moving away from on premise models. At that point in time, there were more than 300 systems and applications running on premises. As a leading bank, though, NIBC was faced with the highest levels of regulation and security compliance. In order to implement a hosted software solution, NIBC’s IT team would need a detailed knowledge of the different systems involved.
eFront and NIBC proactively partnered from the beginning in order to prevent the following risks associated with a transition to SaaS solutions:
Performance: Lack of access to services due to Internet outages
Security: Data security risks dependent on data storage
Time to Market: Time to deploy the software
Costs: Management of the total cost of infrastructure and operations
NIBC is using eFront Invest GP, hosted by eFront. Within this solution, NIBC uses the following eFront services and modules:
- eFront Hosting: eFront software is installed on eFront’s managed infrastructure
- eFront Core: CRM functionalities
- eFront Investment: Tracking and reporting on alternative investment transactions
- eFront GL: Management of alternative investment accounting activities
- eFront Report Designer: Creation and delivery of tailored reports
“We did not notice any hiccups anywhere during this project.”
Joris van Dijk, Head of Operations Equity and Funds.
“The system is reliable, secured and easy to upgrade.”
Sjoerd Buis, Vice President Fund Administration, Alternative Investments
Key Benefits
SECURITY
Secured data and compliance with the highest regulatory standards (e.g., SOCA)
PERFORMANCE
Implementation of a full SaaS solution without a decrease in the level of performance
FLEXIBILITY
Increased time and resources available to NIBC’s IT team thanks to eFront’s extensive knowledge and experience in hosting software
PROCESS AND DOCUMENTATION
Established clear escalation protocols in the event of technical incidents. Clear production of documentation during and after the project
About NIBC
Firm Type: Corporate & Retail Bank
HQ: Netherlands
Website: www.nibc.comNIBC is an enterprising bank focused on matching their clients’ can-do attitude with their own THINK YES mentality. From their offices in The Hague, Amsterdam, Frankfurt, London and Brussels, NIBC serves around 600 mid-market businesses and more than 400,000 retail clients through a portfolio of client-focused products and services.
NIBC manages 9 funds, predominantly investing in Benelux, infrastructure, technology, and innovation technology companies.
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ABOUT ALADDIN
Aladdin® is a technology platform used by asset managers and owners including banks, financial institutions, pensions, corporations, insurers, and wealth managers. The Aladdin platform unifies the investment management process, providing a common data language within an organization to enable scale, provide insights, and support business transformation. Through eFront® technology, alternative investment data management is covered to meet the needs of alternative investment professionals worldwide and across all major alternative asset classes. From fundraising, fund administration and reporting to data services and analytics, the platform provides capabilities to support decision making and investment oversight.
Aladdin® and eFront® platforms bring together public and private asset class data to create an industry-recognized whole portfolio solution for investment professionals globally. Find out more at www.blackrock.com/aladdin | request@blackrock.com
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