Jyske Bank live with new reporting system from Vermilion Software
Jyske Bank, Denmark
Vermilion Software, a UK-based supplier of client reporting and communications software, has completed a project at Jyske Bank in Denmark.
Jyske Bank, which holds the third largest market share in Denmark and specialises in private banking, embarked on the IT revamp last summer. On the way out was the in-house built system.
Jacob Jensen, head of client service at the bank, said at the start of the project that the legacy platform could not address the demands of Jyske Bank’s high-end clients for more sophisticated and complex reporting with a detailed drill-down.
Vermilion helped the bank to integrate existing systems, customise workflow and automate the re-use of data to create a more streamlined reporting solution, according to the vendor. The new set-up has automated the production of client valuations, fund commentaries and PowerPoint presentations, at varying frequencies, for the bank’s entire client base.
The team at the bank evaluated Vermilion and another UK-based vendor, Equipos, with its Coric offering (the vendor was subsequently acquired by Simcorp and is now known as Simcorp Coric). Vermilion demonstrated a high degree of competency and could address the “quirks” around the bank’s data structure, according to Peter Bruun, senior business developer at Jyske Bank.
