Deutsche Börse Managed Services and Solfia (Vermeg Group) recently signed a new customer: Contassur, a Belgian insurance company that manages the largest pool of pension funds in Belgium. Contassur will use the Vermeg Wealth/Institutional Management Software-as-a-Service (SaaS) Hub platform, which will be run from Luxembourg on the highly secured IT infrastructure of Deutsche Börse.
This is the eighth customer to on-board on the SaaS Hub, which was jointly developed by Deutsche Börse Managed Services and Solfia. All customers are important members of the financial industry in Western Europe, amongst them insurance leaders Allianz Life and Generali in Luxembourg, asset management firm Pergam and pension fund ERAFP in France. Together, these customers represent more than 60 users for several billion euros under management.
The all-in-one solution is jointly managed by Solfia, on the application side, and Deutsche Börse Managed Services, on the infrastructure and IT services side. While Solfia delivers the software application and managed services such as global administration and service desk and provides middle/back-office services, Deutsche Börse Managed Services hosts the infrastructure in its active data centres in Luxembourg and provides a full set of managed services up to the technical management of the application.
Allowing financial institutions to digitalise their activities
The collaboration between the two companies started in 2012 when they decided to create a joint offering pertaining to the provisioning of an Asset Management Solution in SaaS mode, allowing financial institutions to digitalise their activities. This collaboration has created a value proposition in line with the trends of the financial industry which is to migrate IT business applications from an on-premise (classic model) to an outsourced model, whether SaaS or application service provider. With both companies being accredited Professional of the Financial Sector (PSF) by the Luxembourgish regulator, the joint offering furthermore captures the added value of a complete IT solution for insurance companies, asset and wealth managers, family offices and banks.
About Deutsche Börse Managed Services
Deutsche Börse Group provides IT Hosting and Managed Services to customers via Clearstream Services S.A., founded in Luxembourg in 1970. Clearstream Services, a fully integrated Deutsche Börse Group entity, employs more than 600 IT specialists and runs one of the largest IT operations in Luxembourg. It has been offering IT Hosting and Managed Services since 2004, when it was awarded the status of “Professionnel du Secteur Financier” (PSF) from the Luxembourg Ministry of Finance. These Managed Services form part of Deutsche Börse’s Infrastructure Services offer, which comprises licensing, hosting and maintenance of Deutsche Börse applications and infrastructure elements to external clients. The Infrastructure Services department is part of Deutsche Börse’s Market Data + Services area. More information is available at www.mds.deutsche-boerse.com.
About Solfia & Vermeg
Solfia is a wholly-owned subsidiary of Vermeg Group (a leading provider of software solutions in global financial markets) that offers global outsourced solutions and middle/back office services to the asset & wealth management and life insurance industries. The key idea behind this initiative is to allow Solfia Customers to focus on their core business activities and on their added value for their end-clients. Headquartered in Luxembourg, Solfia is a fully regulated company holding PSF (Professional of the Financial Sector) status. Solfia is controlled by Luxembourg’s financial supervisory authority, the “Commission de Surveillance du Secteur Financier” (CSSF).