Jyske Bank Signs with Vermilion for VRS, Data Mart Services
Key to the contract was the ease ease with which the VRS could be integrated existing portfolio management systems.
According to London-based Vermilion, a client reporting specialist that won three categories ─ best client-reporting platform, best implementation at a buy-side firm, and best product for 2014 ─ at last year's Buy-Side Technology Awards, a key factor in Jyske's decision to sign with vermilion was the vendor's proof of concept (POC) initiative that illustrated the ease with which the VRS could be integrated with the bank's existing portfolio management systems.
The POC also allowed users to create and maintain their own workflows to fit the bank's target operating model, in addition to it illustrating support for the automatic reuse of both data and commentary across multiple reports to eliminate duplication of effort.
The partnership will allow Jyske Bank to automate the production of client valuations, fund commentaries and PowerPoint presentations, at varying frequencies, for the bank's entire client base.
Founded in 1967, Jyske Bank is the third largest Danish bank in terms of market share. Headquartered in Silkeborg, Jyske has branches in Denmark, France, Germany, Gibraltar, the Netherlands and Switzerland.
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