VICKING, the technology company behind K-PAX, a strategic automated reconciliations and regression-testing platform, has today announced that Rabobank, one of the world’s leading food & abribusiness financial institutions, has used K-PAX to complete regression testing of its trading platform Kondor+ in record time five days instead of three month. K-PAX is a unique system-independent solution enabling banks and risk controllers to easily produce, compare and manage historical and financial data, providing immediate high quality and reliable reporting results.
Rabobank has been using K-PAX to regression test Kondor+ since 2008. In January 2014 the bank embarked on an upgrade project of its trade and risk management system, with an initial timescale of three months. Naseer Haider, Senior Developer, Rabobank, comments: “Using K-PAX provides us with a high level of reliable regression testing results much faster than was previously possible. The latest upgrade was no exception without K-PAX, regression testing a release like this would have taken three people 27 days (81 man days), with K-PAX one person was able to complete the process in five days. Moreover, K-PAX provides us with confidence that the results are not corrupted from environmental or market data inconsistencies which frees us up to make sure things like our environments are set up correctly and running smoothly.” Mark Dodds, Head of Financial Markets Trading Systems, Rabobank continues: “Using K-PAX has really raised the confidence for the FX & MM Systems department to deliver reliable upgrades, building further upon our reputation for excellence, efficiency and responsiveness as a result. For the bank as a whole, this gives us the opportunity to make advances with greater confidence in our data”.
Steve Johnston, Director of Global Sales, VICKING, comments: “The journey we have taken with Rabobank has been really exciting. Our mission statement is ‘To make companies more efficient through the use of K-PAX by automating their data management and transformation processes.’ We know the value that K-PAX can bring and it’s great when we see our customers benefitting from the speed, accuracy and quality that our market-leading technology provides. We look forward to our continuing relationship with Rabobank - helping them raise the bar even higher with K-PAX”
VICKING (vicking-sa.com) is the technology company behind K-PAX, a strategic automated reconciliations and regression-testing platform and end of day and reporting solution for financial institutions and across all industry sectors. Founded in 2007, in response to demand for solutions to deal with data governance, data quality and control issues, VICKING developed the K-PAX platform in close partnerships with major international institutions. Today K-PAX is deployed at financial institutions across Europe.
The K-PAX platform is a unique solution enabling banks and risk controllers to easily produce, compare and manage historical financial data, providing immediate high quality and reliable results. The K-PAX platform allows banks to perform 100% automated regression testing, performance and stress testing, market risk data management, intra-day reporting, end of day management and data migration.
About Rabobank Group
Rabobank Group is a Netherlands based, international financial services provider operating on the basis of cooperative principles with a predominant focus on providing all finance services in the domestic market. Internationally the Group's focus is on food and agriculture. In line with its cooperative roots, Rabobank Group is a cooperative bank, comprised of independent local Rabobanks, plus their central organisation Rabobank Nederland and its (international) subsidiaries. The organisation has approximately 56,900employees (fte) worldwide and operates in 41 countries.
Rabobank Group has high credit ratings, awarded by international rating agencies Standard & Poor's, Moody's, Fitch and DBRS. In terms of Tier I capital, the organisation is among the top 30 largest financial institutions in the world.
Internationally, the Rabobank Group operates specialised entities including De Lage Landen (leasing and vendor financing) and Rabo Real Estate Group (real estate management).