Industrial Alliance Deploys Eagle's Accounting Solution
July 07, 2014
Industrial Alliance Investment Management, the investment arm of Industrial Alliance Insurance and Financial Services, has deployed Eagle Investment Systems’ accounting solution and the Eagle Analytics platform with its FINCAD analytics feature.
Eagle specializes in providing financial services technology and is a subsidiary of BNY Mellon. Industrial Alliance is an existing customer of Eagle as it is already using Eagle Data Management and also Eagle ACCESS, a secure private cloud. Eagle helps financial institutions to improve operational efficiencies and also reduce complexity and risk.
The new deployment will deliver a single integrated portfolio management platform that will support the client’s ABOR or accounting book of record and IBOR or investment book of record needs.
Denis Beaulieu, systems director and chief compliance officer for Industrial Alliance, explained that the organization will implement Eagle’s performance measurement suite next, which will enable a truly integrated exception-based operational workflow that can optimize investment reporting.
Eagle’s system serves both as a new accounting system and as a new performance measurement solution. The full suite of solutions will help the firm centralize, cleanse and validate data. Eagle Accounting will help in multi-basis accounting, including international financial reporting standards (IFRS) and U.S. statutory reporting. In addition Eagle Analytics simplifies valuation and calculation of analytics for fixed income also.
Industrial Alliance will benefit from Eagle ACCESS and Eagle’s data integration services which enables standard integration with reference data, pricing, corporate action, trading systems and benchmark providers, said officials.
Mal Cullen, Eagle’s head of the Americas and Eagle ACCESS, said, “In today’s challenging market, clients look to work with providers that can meet their functional needs, but also go the extra mile to offer services and efficiencies that extend beyond today to address future requirements.”
In 2013, Eagle Investment partnered with Electra Information Systems, a provider of proven software solutions for the asset management industry. This alliance allows Eagle to introduce Electra’s market-leading solutions for data acquisition, transformation and normalization, billing and revenue management, and post-trade messaging, to its global buy-side clients.
Edited by Alisen Downey