Customer cases for Vitec Aloc’s capital market solutions
- Private Banking
- Asset Management
- Pension & Insurance
- Trading & Order Management
- Bank Treasury
- Corporate Treasury
You can read what they have gained from partnering with Vitec Aloc below, and their assessment of our company, employees, systems and services.
Oslo Pensjonsforsikring – Customer focus
Changing to a new portfolio management system is not something that you do lightly. It is a long-term strategic decision based on lengthy and thorough analysis and consideration.
In April 2019, Oslo Pensjonsforsikring decided that their future portfolio management system would be Vitec Aloc’s PORTMAN system. PORTMAN is made up of modules, and this means, according to Lars Haram, that the technical platform is able to handle the future needs that will arise as the business grows or faces new regulatory requirements. You simply purchase the module that meets the new need.
“Vitec Aloc convinced us that they have both the ability and the will to further develop the system and secure its future. They listen and understand, and generally we are a perfect match."
Lars Haram, CIO and Head of Capital Management at Oslo Pensjonsforsikring
Eika Boligkreditt – Reporting taken to a new level
When Eika Boligkreditt in Norway decided to look for a new portfolio management system they had several goals. The most important was that it had to ensure good Asset Liability Management (ALM) and management of financial instruments. But Eika had an additional two overarching aims: The reporting opportunities for the organisation had to be streamlined and the level of support from and collaboration with the new partner had to be significantly improved. Both of these aims have been achieved with Vitec Aloc.
“There is no doubt that the collaboration has helped to make our processes more efficient. For example, we now spend considerably less time on accounting – time we can instead devote to actually developing the business."
Sindre Friestad, Senior Business Controller for Eika Boligkreditt.
Danske Bank – A partnership spanning more than 20 years
Danske Bank has partnered with Vitec Aloc for over twenty years. Primarily because using the PORTMAN solution is good business for Danske Bank, and Vitec Aloc knows the financial sector better than most. Strong cooperation and mutual trust have been built up over the years.
“Vitec Aloc’s business strength is that they know the sector as well as they do."
“We are really delighted with the support function. We only ever encounter competent and service-minded employees.”
Sophie Hansen, Head of Tax Services and Customer Reporting, Private Banking Elite clients of Danske Bank.
Handelsbanken – Focus on efficient workflows
When the aim is to continuously increase efficiency, this places demands on internal routines and processes. The systems have to support the automation of daily routines and workflows, so that time and resources can be freed up from operations for other more value-adding work, to the benefit of customers.
“Vitec Aloc has roots in the financial sector and, they are familiar with the routines in a bank, so they also know whether something needs to be fixed and or is nice to be fixed. This is apparent from the continuous development of the system, such as the user interface improvements that help to strengthen our workflows and make us more efficient."
Esben Bøgeholdt Kæmpegaard, Head of Handelsbankens Danmark’s asset products
SEB – Has been using the IDEAS trading system since 1997
SEB is a Swedish bank. This means that many reports have to be sent to Sweden and in turn to the Swedish authorities. Everything that is traded in Denmark in IDEAS must be transferred to the central Swedish system. In the old days (before MIFID II was introduced in 2018) much of this process was handled manually, with the associated risk of misunderstandings, data entry errors, etc.
Automating this process therefore represented a very clear and extensive business potential.
”We’re very confident in Vitec Aloc and their market understanding, so when they presented an API solution that exports data directly from IDEAS to our central reporting system in Sweden, we listened intently. And today we are grateful for that."
Mogens Juhl, Head of IT at SEB Danmark
PensionDanmark – A strategic shift to PORTMAN
PensionDanmark decided to insource portfolio management in 2016, with all that this entails in terms of complicated daily registrations and valuations of financial instruments, for a pension fund that manages more than DKK 270 billion in assets.
Unlike a number of the major alternatives, PORTMAN is a very open system. You are allowed to ‘look under the hood’, so to speak. But perhaps even more importantly, it is possible to connect PORTMAN directly to PensionDanmark’s other systems.
“This has made working with performance measurement, risk control, and management- and accounting reporting much easier, which has freed up more time that we can devote to the activities that are essential to our business."
Anders Bruun, CFO, with responsibility for fund reporting in PensionDanmark
Lundbeckfonden – Partnership based on mutual trust
Lundbeckfonden chose PORTMAN because it is a portfolio system that provides the functions they need. The additional features that other systems have are not something they need enough to outweigh the other benefits of this portfolio management system. And many of the IT companies that offer the larger complex solutions are themselves very large, so that customers risk being overlooked and forgotten.
“It was very important that we have a personal relationship with Vitec Aloc – that we have a voice and that we are heard, which is definitely the case. Vitec Aloc are very attentive, and this is very important to us.”
Lotte Halse, Investment Controller at Lundbeckfonden
Nykredit received a user-friendly and scalable MiFIR solution
State-of-the-art. That is how Vitec Aloc's investor protection solution, PORTMAN MiFIR, was described after two months of operation at Nykredit – one of the first customers to use the system. Rasmus Grinderslev, who was Product Manager at Vitec Aloc at the time, understands their excitement: “They didn’t just receive a black box. The users were involved from the outset, and the solution has been designed based on their specific workflows – so expectations have been met from day 1."
“With PORTMAN MiFIR, Vitec Aloc has supplied a solution for the daily reporting challenges necessitated by the change in the law. Our reaction time has been shortened considerably and, considering the potential risk of other dramatic changes on the securities market, knowing that we are prepared provides us with peace of mind.”
Klavs Holten, Head of Reporting at Nykredit
Accunia – Automation frees up time for customers
PORTMAN automates Accunia’s daily overview of holdings in depositary banks, limit management and differentiated customer reporting based on advanced performance calculations. Input and output are automated to such an extent that consultants’ time can be spent where it creates the most value. The dedicated customer team ensures that Accunia constantly gets the best possible value out of the system.
“It is now much more possible to focus on client reporting and controlling instead of input. It gives us greater security when it comes to reconciling holdings and calculating positions, returns, etc. It has become the foundation for a great direct reinforcement of our customer service.”
Jeanette Engdal, CFO of Accunia
AP Pension – Future-proofing growth
Vitec Aloc was chosen to provide a new portfolio management system to future-proof growth at AP Pension without requiring additional staff.
AP Pension gained a number of advantages by choosing Vitec Aloc as its provider:
- Greater productivity, without hiring more staff
- Faster task execution – reduced from weeks to days
- Fewer manual processes
- More valid results
The platform is very intuitive to use, so employees could quickly get started using the system. AP Pension and Vitec Aloc also have a good working relationship. This has led, among other things, to the creation of a user group for pension companies.
The system is used to manage the entire AP Pension portfolio.
“Switching to PORTMAN has been a financially sound decision for AP Pension. Productivity is up, and the price for new modules and maintenance is at a completely different level than before. So, for AP Pension, implementation of Vitec Aloc's system is an investment that yields value for money."
Karsten Laursen, Chief Financial Officer and Carsten Gjede, Risk Manager at AP Pension
Vitec Aloc reporting and streamlining at Nykredit
Nykredit is one of Denmark’s leading financial institutions, with a very high market share. The Group provides mortgage finance and banking through a diverse range of products.
Private Portfolio is a highly specialised part of Nykredit, which focuses on providing individual advice to wealthy clients in Denmark. Nykredit has managed to meet the needs of the various segments for personalised services, with a complex infrastructure to support its services.
Nykredit wanted to offer its clients a helicopter perspective on their holdings – spanning savings, investments, properties and pensions. They therefore sought a system that could handle quarterly automatic reporting to customers on their portfolio.
Vitec Aloc was chosen to provide a new portfolio management and reporting system, with the aim of giving customers the unique reporting that Nykredit offers, with much higher internal efficiency.
By partnering with Vitec Aloc, Nykredit has gained a number of benefits:
- Clear reporting, even for complex portfolios
- Automated reporting that saves internal resources
- Targeted use for various segments and risk profiles
- Support for personalised advice with valid data
Through its investment in Vitec Aloc's systems, Nykredit now has a way to do reporting that is both automated and streamlined. This allows Nykredit to handle an increasing number of new customers, without having to invest manual resources in managing processes or reporting status to customers.
“PORTMAN is an integral part of the business”
At Skandia Asset Management Fondsmæglerselskab, which manages Skandia’s pension portfolio, all transactions pass through the PORTMAN portfolio management system from Vitec Aloc. PORTMAN is simply the backbone system at Skandia Asset Management Fondsmæglerselskab.
“PORTMAN may not be the world’s biggest or most advanced portfolio management system – however, in terms of value for money, we could not wish for anything that supports our business more. We are highly satisfied with both Vitec Aloc and PORTMAN."
Mille Anker Agerlund, Analyst, Middle Office, Skandia
“The aim is to minimise transaction prices”
Spar Nord no longer measures trades in foreign securities in minutes, but in seconds. This has freed up a lot of resources and has allowed Spar Nord to greatly increase the number of trades.
There was great business potential in putting trades in foreign securities into more streamlined and automated processes.
Spar Nord therefore started working with Vitec Aloc to place the trades in the broker network.
The project took six months – from the idea stage to the first trade. “And the system worked as intended from the first trade,” says Lisbeth Amby Møller, Project Manager in Spar Nord’s trading and foreign transaction section.