‘Data Exchange’ is a new application that provides financial institutions with a generic mechanism by which data can be imported, translated where necessary and distributed in a controlled yet configurable way.
Generali International is using ‘Data Exchange’ for market data, more specifically to automate the process of requesting financial data, including prices, exchange rates, dividends and additional securities information from its new financial data provider. The application then feeds that information in the appropriate format into Generali International’s back office system, rhymeSIGHT. ‘Data Exchange’ also accepts corporate event data from the same provider which is sent to multiple platforms for broader use within the Generali International business.
As a standalone system ‘Data Exchange’ is able to manage data from any market data vendor, and is compatible with all market-leading back office systems. In fact, ‘Data Exchange’ can be used for any data transfer purpose.
Mark Lainé, Head of Information Systems, Generali International, said, “We are always looking for ways to increase the efficiency and flexibility of our operation. ‘Data Exchange’ has allowed us to make a smooth transition to our new financial data provider and Generali International is now benefitting from greater pricing coverage and significant cost savings, further enhancing our operational efficiency.”
Piers Farbrother, Product Director, 3i Infotech - Western Europe, commented, “Our new application ‘Data Exchange’ removes the restriction that many institutions face of being tied to one market data vendor and crucially, allows them to dictate where they source their data. ‘Data Exchange’ will assist the market in its drive for more accurate and price competitive data.
“As a business we work closely with our customers to deliver innovative solutions that meet their operational needs. ‘Data Exchange’, is a prime example of such a development and its adoption by Generali International serves as a further endorsement of our leading solutions in the wealth management field.”
3i Infotech is the UK market leader in asset management solutions, with four out of the top five private wealth managers using its software and services. Clients include Barclays Wealth, Rathbones, Jupiter and Friends Provident.
About 3i Infotech
3i Infotech (3i-Infotech.com) is one of India’s leading IT companies and among the top 3 Indian Software Products Companies.* The Company provides software products, IT services and BPO services (Managed IT Services, Application Software Development & Maintenance, Payment Services, Business Intelligence, Document Imaging & Digitization, Operations Outsourcing and IT Consulting) for the Insurance, Banking, Capital Markets, Mutual Funds, Wealth Management and Government verticals. The Company services customers in over 50 countries across 5 continents.
The Company's quality certifications include ISO 9001:2008 for BPO, ISO/IEC 27001:2005 for Data Centre Operations and ISO/IEC 20000-1:2005 for Data Centre Management Services. The Company has embarked on re-appraisal under SEI CMM ML 5 for all of its major software development centres in India.
*Source: Dataquest 2009
About Generali International Limited
Generali International (generali-gi.com), headquartered in Guernsey with regional offices in Ireland, Cyprus and Hong Kong, is a specialist arm of the Generali Group. The Company offers sophisticated and powerful life insurance based wealth management solutions to a global audience, including both international expatriates and certain local resident populations.
The Generali Group, a Fortune 500 top 50 company, is a provider of financial services products in the global market. Generali is a name that has become synonymous with security and reliability for millions of clients around the world. This ‘real’ business experience and enviable track record gives the Group a global insight that Generali International brings to the benefit of Financial Advisers and their clients.