UBI Sistemi e Servizi - the UBI Group IT Company, UBISS - cooperated with Cedacri to integrate the Full Finance application with all the functions required to manage operations of placement of funds and SICAV, which were previously carried out using different applications. The advantages obtained by the UBI Group have been several, in terms of efficiency for front- and back-office bank staff, streamlining of processes and improvement of service levels, optimization of the application park with subsequent reduction in expenses for maintenance and evolution.
UBISS, the Company responsible for the management and evolution of the information systems of the eight banks in the UBI Group, the third Italian banking group in terms of Stock Exchange capitalization, needed a more evolved, performing and technologically updated system for the management of operations for the placement of funds and SICAV, in order to keep the Group Banks' efficiency in these operations constantly high.
For this, UBISS chose Cedacri again, with whom, since 2003, it has had a partnership that has led the two companies to develop Full Finance, the Finance platform used by all the Banks in the UBI Group and by Cedacri Customer Banks.
“Over the years, Full Finance has allowed the UBI Group to constantly maintain a high efficiency level in securities trading and in back-office processes; still today, Full Finance is one of the applications that users appreciate the most. This is why, in 2012, when we required a new solution to manage operations for the placement of funds and SICAV, we found that a new cooperation with Cedacri was the option more in line with our strategy for efficiency enhancement and optimization of our application park” said Dario Sorrentino, Head of the Area of Applications for Asset Management of UBISS
From April 2012 to September 2013, UBISS and Cedacri once again worked in partnership to evolve the Full Finance solution towards the management of the entire cycle of placement and post-sale activities for funds and SICAV, so as to allow the Banks in the UBI Group to rely on a single solution to manage the wide range of financial instruments, from securities to derivatives, all the way to investment funds and SICAVs.
Today, the UBI Group has a single interface and a single procedure to manage all the main financial instruments, with obvious advantages for the Group Banks in terms of processes and for UBISS in terms of technology:
UBISS can also rely on Cedacri's support for future evolution of its functions for placement of funds, which were previously managed in-house. “The cooperation between UBISS and Cedacri has proved to work very well over many years. This project is yet another success achieved together and, thus, also the basis for a profitable continuation of this cooperation in the future” said Dario Sorrentino, Head of the Area of Applications for Asset Management of UBISS