Orbium Launches its new Management Information System for
Banks - Prism
Geneva, October 2010 - On October 15th 2010, Orbium launched its latest in house developed product: Prism. Prism is a Management Information System (MIS) developed by Orbium and targeted to Banks.
Prism is a powerful strategic tool that leverages enterprise data to help optimize monitoring and planning – and improve decision-making. This tool aims to provide Private Bank decision makers vital, timely and actionable insight in the form of management reports that can impact every process and activity across the entire financial services spectrum.
Prism is a Plug and Play solution for the Avaloq Banking System, which can also be interfaced with any other core banking application. It is based on Microsoft technology, making it extremely easy to use. The tool focuses on areas of analysis such as Assets under Management and Revenues, Cost Accounting and Business Process Analysis.
Prism’s main functionalities are:
- Dashboarding – allows a bank’s management to follow the day-to-day evolution of its business using KPIs.
- Standard MIS Reporting – a reporting system that lets banks generate periodic MIS reports, specially customized to their needs and business structure.
- Ad hoc MIS Reporting – creates specific MIS reports based on the ad hoc needs of client banks.
This software has been built from the ground up by Orbium developers as well as business and financial specialists in close collaboration with a pilot client, the National Bank of Abu Dhabi (NBAD) Private Bank SA based in Geneva. This tool incorporates Orbium’s years of experience working on consulting projects with Private Banks.
Orbium is differentiating itself through the development of product applications that give its clients an edge in terms of time efficiency, productivity and strategic vision. Indeed, Prism is following in the footsteps of the first Orbium product: SecurEasy; an Avaloq plug in application which improves security. Orbium is confident that Prism will profit from the same success as SecurEasy in its vision to help Private Banks meet their challenges.
The NBAD Private Bank (Suisse) SA is the first bank to benefit from the Orbium Management Information System, Prism. Simon Durrance, CFO, comments “We are very happy with Orbium’s MIS tool. It has fulfilled our expectations as it can be perfectly calibrated to our needs. In effect, Prism allows NBAD to easily monitor its key business drivers, from AuM through to profitability at relationship manager and client level, encompassing state-of-the-art reporting functionality, yet all via a user-friendly interface. Above and beyond the quality of the product itself, Orbium has once again proved to be a customer centric partner that is very aware and reactive to our needs. This has ensured a fruitful and pleasant collaboration”.
About Orbium
Orbium is an international IT and business consultancy focusing exclusively on the financial services industry. By sharing its extensive business and IT knowledge, it helps its financial services clients to successfully negotiate their business and technical challenges. Orbium services are offered on a project or strategic staffing basis, in both custom and package environments, and across all technology platforms. Orbium is an Avaloq Premium Implementation Partner. Orbium Business and IT consultants continuously build and upgrade clients’ systems to “competitive advantage” status.
About NBAD Private Bank SA
Based in the heart of Geneva, NBAD Private Bank (Suisse) SA is a fully independent and wholly-owned subsidiary of the National Bank of Abu Dhabi Group (NBAD Group), reflecting Swiss private banking at its best with an in-depth understanding of Arabian culture. Separate from private banking, the NBAD Group offers trade finance services through Geneva, which acts as a trade gateway between European and MENA companies. The bank is regulated by the Swiss Banking regulator FINMA and is subject to Swiss banking rules and regulations. The National Bank of Abu Dhabi (NBAD) is the number one bank in UAE (United Arab Emirates). Ranked as one of the top 50 safest banks in the world, NBAD’s overseas network stretches from Oman, Kuwait and Bahrain in the G.C.C.; Egypt, Libya and Sudan in Africa; UK, France and Switzerland in Europe; Honk Kong and Jordan in Asia to Washington D.C. in the USA.NBAD provides its customers with a variety of financial services targeting all segments of the consumer and corporate markets in addition to fund management, brokerage, financial markets, leasing, property management and private banking businesses. NBAD is rated senior long term/short term A+/A-1 by Standard and Poor’s, Aa3/P1 by Moodys and AA-/F1+ by Fitch giving it one of the strongest combined rating of any Middle Eastern financial institution.
Press-release-Prism (pdf, 42.0 KB)