Dexia-BIL, whose Fund Services group now administers US $120 billion in ten locations around the world, announced today that it is purchasing the Safran data consolidation solution for Dexia Fund Services from Cartesis, a European supplier of financial and legal software applications.
Cartesis Safran is a unified financial information solution designed for groups that need one tool for the functions of statutory consolidation, management reporting and unified management and consolidation. “As the market leader for the administration of Luxembourg regulated Real Estate Investment Funds (funds generally having a complex company structure consequently requiring the consolidation of company accounts at Fund level), and in order to cope with the constantly increasing demand for this type of investment funds, we needed an IT solution that would enable us to offer more efficient, more reliable and more rapid consolidation services to both our existing and potential customers,” explains Gilles Reiter, Senior Business Development Manager at Dexia Fund Services. “We are confident that Cartesis Safran will be the ideal tool to support not only the consolidation aspect as such, but it will also enable us to achieve better management of our risks and will be further instrumental in developing our sales strategy.”
Michel Retourn, Managing Director of Cartesis Belgium added: “I was particularly satisfied that our standard solution could be adapted so quickly and so easily to the quite specific needs of Dexia Fund Services and that it perfectly met their quality requirements for services provided to their customers. This is due to the flexibility and power of our Safran solution and is the outcome of over 10 years’ experience accumulated by working alongside our customers on a day-to-day basis. It is a noticeable fact that Groups integrate our solutions into their development strategy and their Quality approach. Dexia Fund Services is a perfect example of this.”
Dexai Fund Services operates out of Luxembourg, Brussels, Dublin, Hong Kong, the Cayman Islands, Madrid, Milan, Paris, Singapore and Zurich, offering custody, fund administration, fund accounting, trustee and transfer agency, securities lending and access to an internet platform for fund distribution support.
Cartesis is a supplier of management and financial reporting software packages.