NEW YORK, November 10 /PRNewswire/ -- Asset Control, a world-wide leader in financial data management solutions, today announced that WestLB AG, a European commercial bank with headquarters in North Rhine-Westphalia, Germany, has implemented Asset Control's AC Plus financial and reference data management software. AC Plus supports the bank's back-office operations and day-to-day user requirements across its businesses worldwide.
WestLB required a solution that would enhance data quality and breadth of instrument coverage. Asset Control's AC Plus consolidates multiple securities data sources, enriches the data, distributes automatically-cleansed data to back-office and financial systems, and gives users web-based access to quality data from a single source. AC Plus also provides WestLB with the ability to quickly add data feeds to its static data stream.
About WestLB AG
WestLB AG is a European commercial bank with headquarters in North Rhine-Westphalia, Germany's most densely populated federal state. Group total assets are EUR 267.9 billion as of June 30, 2008. It is the central institution for the roughly 125 savings banks in the states North Rhine-Westphalia and Brandenburg and acts as their link to the global financial markets. Working in close partnership with the savings banks, WestLB offers the full range of products and services of a universal bank, focusing on lending, structured finance, capital market and private equity products, asset management, transaction services and real estate finance. WestLB employed 5,994 staff as of June 30, 2008. WestLB is one of Germany's leading banks in the payments field. With a total of 1.8 billion transactions, it has a market share of approximately 11 per cent. Please visit http://www.transactionservices.westlb.com for more information about transaction services.
About Asset Control
Asset Control provides centralized data management solutions for financial institutions worldwide. From business-entity to firm-wide projects, Asset Control offers a strategic reference and market data platform that delivers the accuracy, consistency and relevancy firms need to reduce costs and risk, manage evolving compliance needs, and accelerate the delivery of new products and services. A Fidelity Ventures company, Asset Control serves some of the world's most successful financial institutions. For more information, visit http://www.asset-control.com.
Trademark Information: Asset Control, the Asset Control logo and AC Plus are trademarks or registered trademarks of Asset Control Systems, Inc. or its subsidiaries or affiliates in the U.S. and/or other countries. All other trade names are trademarks or registered trademarks of their respective holders.
Press Contact: Eric Hazard, Intermarket Communications, +1-212-754-5610, ehazard@intermarket.com
Comments