Source: www.finextra.com

Kas Bank, the independent European securities specialist, has launched a full backoffice processing service to augment its existing range of clearing, settlement and custody solutions.

The new service, provided by KAS BANK’s Broker Services Division lead by René Hoogeland, will consolidate previously separate functions on a single, robust platform and limit the transfer of data between external parties. This will in turn improve speed and efficiency, reduce scope for error and allow full scalability. The end result is a service delivering excellent value for money and market-leading STP rates.

The new back-office function links directly to KAS BANK’s cross-border clearing and settlement platform, resulting in a fully integrated offering in support of the entire post-execution process. Clients will be able to deal exclusively with KAS BANK from front-office deal capture through data enrichment to cash and stock position reconciliation.

Additional features include full trade accounting capability - including trial balance and profit & loss reporting - provision of contract notes for underlying clients, postings to the general ledger and comprehensive regulatory reporting from a single source. The system will ensure full compliance with both local and international regulations.

The system infrastructure underpinning the service is provided by GL TRADE, in the form of GL RIMS. GL TRADE is a highly regarded supplier of leading-edge software solutions for the financial services industry. This affiliation represents a partnership between two expert and trusted firms to provide a complete service.

The integrated service has been launched for UK wholesale brokers (Model A and Model B) operating in the major European markets, and will be rolled out in our other primary markets (beginning with Germany) in the coming months.

“This is a new value proposition for the UK market - there are very few suppliers offering as integrated, seamless and comprehensive a service. We are anticipating significant interest from financial institutions wishing to focus on their core activities.” Albert Röel, Chairman of the Managing Board, KAS BANK N.V.

“We are delighted to be in this partnership. Our experience in implementing GL RIMS middle- and back-office solutions in these markets complements KAS BANK’s excellent level of service.” Alex Walker, Global Head of Post-Trade for Securities business line, GL TRADE.

Source: www.zdnetasia.com
By Nick Heath

Businesses are increasingly outsourcing to improve performance–although cutting costs is still the number-one reason for most.

A Gartner survey of 750 IT and outsourcing executives worldwide found 41 percent are primarily outsourcing IT to enhance business outcomes–up from 28 percent in 2005.

The figure is only slightly behind the 47 percent of organizations that identified controlling costs as their main motivation for IT outsourcing.

Allie Young, vice president at Gartner, said the shift towards enhancing business through outsourcing is a sign of a “maturing market”.

Buyers of IT outsourcing anticipate increasing its use over the next two years and 88 percent of the organizations currently outsourcing expect moderate to high levels of outsourcing compared to 67 percent in 2007.

About 85 percent of Europe, the Middle East and Africa organizations expect to continue at the same level or increase their outsourcing during the next two years, up from 62 percent in 2007.