VIENNA--(BUSINESS WIRE)--The Luxembourg Banque et Caisse d'Epargne de l'Etat (BCEE) has been using the back-office securities processing software GEOS and is the first customer of the Austrian software vendor Software Daten Service (SDS) in the Benelux region. BCEE has replaced its existing securities application for customer business with our international standard product.
"We are pleased to have BCEE as our customer to establish a strong presence on such an important European financial market as Luxembourg," says Ernst Kendlbacher, Managing Director of SDS. "With the implementation of our securities processing solution in Luxembourg, we have once again been able to prove that our standard software GEOS with its modern open application architecture can be easily adopted to meet country-specific requirements (e.g. local tax legislation and regulatory provisions) and can be seamlessly integrated into any system environment", emphasises Ernst Kendlbacher.
"The GEOS “go live” at the end of 2012 concluded a significant IT investment project of BCEE. The combined teams of SDS and BCEE achieved the successful integration of GEOS into BCEE’s applications’ environment. GEOS takes an important role in our efforts to streamline and optimize our customer service in the securities’ trading and post trading activities", says Doris Engel, Chef du département Comptabilité at BCEE.
BCEE (Banque et Caisse d'Epargne de l'Etat): Founded over 150 years ago, BCEE has a history rich in tradition and is owned by the government of Luxembourg. It is regularly awarded the best ratings by international rating agencies. In 2012, BCEE received the "Best Bank Award - Luxembourg" by the Global Finance magazine. Furthermore, this financial magazine has confirmed BCEE's ranking among the world's 10 safest banks in its ranking list for 2012.
SDS (Software Daten Service): a subsidiary of T-Systems, specialises in the development of standardised banking software, in particular for international security markets and financial service providers.
With the GEOS Suite, SDS offers a software for the real-time processing of securities and derivatives for international financial service providers.
Other leading products of SDS are the International Regulatory Reporting Engine i:Reg for FATCA (incl. IGA1 and IGA2) and QI reporting, f:Sub for the management of own holdings of securities in accordance with national and international IFRS accounting standards and the Reconciliation Engine e:Match for the fully automated reconciliation and quality assurance of data.