Markit Wins KfW Group Wide Enterprise Data Management Mandate
Markit (Nasdaq: MRKT), a leading global diversified provider of financial information services, has been selected by KfW, Germany’s largest development bank, following its public tender process. KfW will deploy Markit’s enterprise data management (EDM) solution to help drive its BCBS 239 compliance, enable its expansion to a multivendor environment and streamline its data management architecture while further supporting KfW’s liquidity and Portfolio Valuations projects.
“Markit has a strong pedigree in being able to deliver on large, complex EDM projects. Its system is also flexible enough to be adaptable to our broad range of data management needs across the business,” said Holger Brinkhaus, head of Quantitative Analysis Trading at KfW Bankengruppe. “Markit has impressed us with its deep level of expertise in different data types, regulations and systems integration and we look forward to working together.”
“KfW’s public tender process was extremely comprehensive and the scope of the project is extensive. We are delighted that we were able to successfully demonstrate our ability to deliver multiple use cases and win the mandate for this project,” said Spiros Giannaros, managing director and global head of Markit EDM. “Markit EDM already has over 135 clients worldwide and this is a significant win for our business and further strengthens our foothold in the German market.”
As the largest German development bank, KfW supports its customers with tailor-made financial products. Last year KfW provided total financing of EUR 74.1billion for projects in Germany and abroad. In addition to advisory services, KfW also makes available capital loans, mezzanine capital and equity financing for entrepreneurs and start-ups.