Case Study Banca Akros
OVERVIEW
Akros, the Investment and Private Banking Bank of the Banca Popolare di Milano Group, is a reference point for institutional and private clients operating in financial markets. Constantly ranks among the first players in Borsa Italiana lists for equity and bonds trading, Akros has been using the Finance Back-Office platform of SiGrade for several years, in particular making use of the system Si-Finanza to support its operations in the post-trading
OBJECTIVES
To provide adequate support to the business both in terms of application and "time to market". A system capable of ensuring conformity with the constant demand for application development and at the same time ensuring compliance with regulatory obligations.
PARTNER SELECTION
Banca Akros, which has made innovation a strength of its offer, chose the Finance Back-Office platform of SiGrade recognizing the supplier professionalism and expertise in a keynote address that can combine the value of an industrial strategy with the advantage of a tailor-made approach, the right mix that makes the platform unique in the panorama of the market.
PROJECT
The Finance Platform of SiGrade used by Banca Akros has been designed for the management of Back-Office operations for finance. The system is constantly updated and upgraded to the requirements resulting from new operations in the markets, from the management of new financial instruments and from the requests of new Customers, in a scenario of fiscal and regulatory complex changing.
Specifically, in the last two years, the Platform has been developed in this areas:
- French FTT (Financial Transaction Tax )
- Tobin Tax
- Management of Italian Government Securities (BTP)
- Cassa di Compensazione e Garanzia (Italian central counterparty) on Foreign Markets
- Migration of “A2A” talks with Monte Titoli (central securities depository)
- Business management for Loans of Securities
- Automated receipt of data flows from various Providers
Recently, Akros chose SiGrade also for the management of reporting on Derivatives to a Trade Repository, in order to comply with the specific pillar of the European Market Infrastructure Regulation (EMIR).
Si-Trade Reporting specific tool is included in the Si-OMIF suite of SiGrade (which also includes the management of Risk Mitigation, Trading Obligation and Clearing Obligation).
RESULTS
The adoption of Finance Back-Office Solution of SiGrade allows Akros to have a fondamental baseline, robust and flexible to support the strategy and business decisions.
Ferrante Zilioli, the Head of the Organization and IT Systems Department of Banca Akros has stated:
"With Si- Finanza, Banca Akros has solved the problem of stability and continuity that we had with the previous system and that put at risk our ability to react respect to the changes in the market. SiGrade helped us to overcome this gap, and today I can say that our Finance Back Office went from being a problem to being a value-added. "