Dresdner Bank Luxembourg opts for Aquin

Competitive edge through trend-setting technologies for investment compliance monitoring and portfolio reconciliation

The fund administrator and custodian bank Dresdner Bank Luxembourg S.A. (DBL), a subsidiary of Dresdner Bank AG, is Allianz Group's centre of competence in Luxembourg. The key to success for DBL is the optimal support they provide for their fund management company and their innovative product policy which is geared to investor requirements. While the proportion of securities is declining in the fund portfolios, the importance of derivative products is continuously gaining ground.

This strong trend towards more complex products, which is expected to continue, turned into an increasingly complex challenge for DBL. In-house solutions used for daily checks and reconciliations reached the limits of their performance ability due to the lack of flexibility in terms of new products.

Greater Efficiency with DEBAS

Peter Schmitt, Head of Fund Support and Project Manager for the implementation of the new work tool: "We required an automated solution that enabled an efficient structuring of our workflows. Because we were highly satisfied with Aquin's MIG21 compliance software, which we have been using since 2003 to monitor investment restrictions, it was easy to shortlist Aquin for this challenge.
Other solutions on the market were not flexible enough, since functions were hard coded instead of being adjustable.
We would not have been able to maintain our level of innovation with such tools. In contrast, Aquin convinced us from the start with their DEBAS depositary bank solution. Its level of sophistication was already a very dose match to our requirements, and the system's flexibility meant we would achieve a high level of planning and investment security."

Optimal Project Progress from Kick-Off to Going-Live

Just 45 project days later, following intensive training by Aquin, DEBAS was put into production. Since the start of 2007, all money and currency transactions as well as exchange-traded derivatives have already been matched using DEBAS in production.

Gerhard Peulen, Head of Fund Business Development: "As a company, and specifically the respective departments that utilize DEBAS and MIG21 the most, we have been highly satisfied with both Aquin products. In both implementations, Aquin staff demonstrated the level of competence needed to carry out IT projects in a complex environment and provided quality work whilst at the same time preserving schedules and budgets. We would especially like to emphasize that this high level of suport continues after implementation - we feel very well looked after in the routine maintenance service. This certainly cannot be taken for granted."

"Implementation within agreed time scales and budgets while maintaining all commitments and quality promises - Aquin has fully gained our trust with the competence and high standards of its consulting staff.

In short: Working with Aquin is simply fun."

DEBAS Supports Quality Certification

An increasing number of clients active in depositary banking and fund administration are requesting that their business partners have standard certification in accordance with the demanding requirements of SAS 70 (Statement of Auditing Standards No. 70). Annual control reports may be viewed by the clients on request, showing detailed information on the efficiency and quaiity of the certified financial service providers. Despite this, at the time of writing, only a few German providers have this accreditation - Dresdner Bank Luxembourg being one of them.

"It would not have been so simple with another solution, and above all, not as fast. Consequently, we are able to respond to dient demands with increased flexibility, and support new products with a significantly shorter Time-to-Market: Thus, DEBAS improves our capabilities and response times in the administration of new complex products. We consider a forward-looking and sustainable system environment as a clear competitive edge over our competitors", comments Gerhard Peulen, Head of Fund Business Development and Co-Project Manager for the DEBAS implementation.

By optimizing our system landscape we support our vision to be a quality provider in the fund business sector.
	Norbert Kohn (right) in conversation with Benedikt Buhl, CEO DBL

Automated Investment Compliance Monitoring with MIG21

Key Facts Dresdner Bank Luxembourg S.A. A subsidiary of Dresdner Bank AG, Dresdner Bank Luxembourg is part of the Allianz Group. A total value of around 22 billion Euros in 80 funds are presently under administration. Homepage: www.dresdner-bank.lu Corporate head office: Luxembourg, other subsidiaries in Monaco and Gouda and a branch in Madeira Parent company: Dresdner Bank AG, Frankfurt Employees: approximately 360 Sectors: Fund administration and custodian banking Challenges Struggling to manage internally developed fund controlling and reconciliation as well as investment monitoring systems High level of manual input required Existing systems too rigid compared to speed of innovation Solutions Aquin DEBAS (data reconciliation between fund administration and custodian bank) and MIG21 (investment compliance monitoring)

Advantages Very short project duration - Aquin supported the complete implementation of DEBAS in only 45 project days Rapid adjustment to new products with DEBAS and MIG21; changes can be configured without vendor support Critical processes such as NAV checking are carried out more quickly and with a sustained higher level of quality Same-day ex-post investment compliance monitoring with MIG21 Homogenous implementation of requirements for portfolio reconciliation SAS 70 certifications achieved due to higher level of transparency Flexibility facilitates adjustment to current market trends and innovation level Efficient range of services possible Interface between MultiFonds and MIG21 / DEBAS very similar in design Solution scalability remains guaranteed Quick learning curve for employees

DBL's Project Team

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