BOSTON, June 30, 2014 /PRNewswire/ -- Eagle Investment Systems LLC (Eagle), a leading provider of financial services technology and a subsidiary of BNY Mellon, today announced that Industrial Alliance Investment Management Inc. (Industrial Alliance), the investment arm of Industrial Alliance Insurance and Financial Services Inc., has gone live with Eagle's Accounting solution as well as the Eagle Analytics platform that incorporates FINCAD® Analytics. Industrial Alliance, which is already using Eagle Data Management, also migrated from an on premise installation to Eagle ACCESS(SM), Eagle's secure private cloud.
"We decided to extend our relationship with Eagle and implement Eagle Accounting because we clearly recognize the benefit of a single integrated portfolio management platform to support our ABOR (Accounting Book of Record) and IBOR (Investment Book of Record) needs," said Denis Beaulieu, director systems and chief compliance officer, Industrial Alliance Investment Management Inc. "Our next step is to implement Eagle's performance measurement suite that will help us to close the loop on completing a truly integrated exception based operational workflow to support all investment reporting."
Industrial Alliance selected Eagle after detailed searches for both a new accounting system and a new performance measurement solution. Industrial Alliance recognized that by implementing Eagle's full suite the firm could extend the efficiencies it already acquired with Eagle's data management solution, which centralizes, cleanses and validates data. The organization now uses Eagle Accounting to address its multi-basis accounting, including International Financial Reporting Standards (IFRS) and U.S. statutory reporting, while leveraging Eagle Analytics to simplify valuation and calculation of analytics for fixed income.
By migrating to Eagle ACCESS, Industrial Alliance also benefits from Eagle's Data Integration Services, which provides standard integration with reference data, pricing, corporate action, trading systems and benchmark providers.
"Industrial Alliance is yet another example of an investment management firm realizing the full benefit of leveraging the Eagle suite using our secure private cloud," said Mal Cullen, Eagle's head of the Americas and Eagle ACCESS. "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."
About Industrial Alliance
Founded in 1892, Industrial Alliance Insurance and Financial Services Inc. operates throughout Canada as well as in the United States. The Company offers life and health insurance products, mutual and segregated funds, savings and retirement plans, securities, auto and home insurance, mortgage and car loans and other financial products and services for both individuals and groups. Ranked among the top four life and health insurance companies in Canada, Industrial Alliance is one of Canada's largest public companies and trades on the Toronto Stock Exchange under the ticker symbol IAG.
Eagle is committed to helping financial institutions worldwide grow assets efficiently with its award-winning portfolio management suite of data management, investment accounting and performance measurement solutions that are delivered over its secure private cloud, Eagle ACCESS(SM). Eagle deploys trusted solutions and services that create operational efficiencies and help reduce complexity and risk. Eagle Investment Systems LLC is a subsidiary of BNY Mellon. Additional information is available at www.eagleinvsys.com.
About BNY Mellon
BNY Mellon's Asset Servicing business supports institutional investors in today's fast-evolving markets, safekeeping assets and enhancing the management and administration of client investments through services that process, monitor and measure data from around the world. We leverage our global footprint and local expertise to deliver insight and solutions across every stage of the investment lifecycle.
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35 countries and more than 100 markets. As of March 31, 2014, BNY Mellon had $27.9 trillion in assets under custody and/or administration and $1.6 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com or follow us on Twitter @BNYMellon.
SOURCE Eagle Investment Systems LLC