Solvency II Compliance: Reale Mutua chooses Irion
Hosted on Microsoft Azure, Irion EDM is the first cloud project developed by the Italian software house specialized in Enterprise Data Management.
Irion announces Irion EDM platform was chosen by Reale Mutua Group as a technological structure to support market data controls Solvency II compliance through a cloud solution created for Microsoft Azure.
The group has chosen Irion to help their compliance regulation needs. Its Financial Risk Modeling function carries out quarterly securities checks on real estate portfolio and the amount and quality of data used to evaluate it. These operations involve a complex flow of data and different platforms: previously they required numerous manual interactions, resulting in high human effort, potential risk of error and poor traceability.
With the aim of ensuring result precision and stability, speed and feedback effectiveness as well as flexibility and modularity, Irion developed a Solvency II Data Management solution for tracking, centralization and rationalization of market data relating equity, bonds, currency and property.
“We were looking for a solution to significantly reduce human effort in quarterly market data verification and at the same time ensure effectiveness and security, fully integrating with our data quality systems. Irion proved their capability responding to our needs: in addition to the implicit benefits deriving from complete traceability and reproduction of the entire process, the first surveys show a reduction of about 60/70% of original processing times.” – Paolo Pulina – Gruppo Reale Mutua.
Among the main benefits are: full process auditability, tracking and quarterly processing historicizing and related user activities, availability of adequate historical photographs on market data, a wide range of asset classes covered, efficient integration of financial metrics calculations and a truly user friendly experience.
“We are really proud of this partnership. Creating our first cloud solution for Reale Mutua Group was an exciting challenge and our team of professionals knew how to accomplish it with the help of our solid technology and experience in the field.” – Alberto Scavino, CEO di Irion.
The solution, hosted by Reale Group ‘s Microsoft Azure subscription, it is in fact the first cloud project developed by Irion, which provided all the professional services aimed at the creation, installation, activation, integration and parameterization of software components.
Irion developed Irion EDM, the complete all-in-one platform for Enterprise Data Management.
We help our customers innovation and business with the Irion EDM platform, enhanced by the Ready To Go Add-Ons developed to further speed up the implementation of data intensive business solutions. All completed with a rich set of professional services.
Irion EDM’s declarative paradigm and metadata-driven approach represent a generational leap compared to traditional data management systems. Allowing for full data advantage and agile and flexible management for the digital business evolution.
The declarative paradigm and metadata-driven approach enable specifying what needs to be done, without having to specify how it should be done.
With over 15 years of experience in the market and in-depth business knowledge, Irion EDM is equipped with unique features, capable of supporting the most innovative practices and methodologies for implementing data intensive solutions (Agile, DataOps), comply with regulatory requirements increasingly oriented towards risk assessment and information asset management in addition to traditional data processing activities.