UK wealth management firm Old Mutual Wealth (OMW) has chosen Eagle Investment Systems' enterprise data management solution to support its Solvency II compliance programme.
The BNY Mellon subsidiary's private cloud system, Eagle ACCESSSM, will centralise and streamline OMW's data management processes to support the creation of new regulatory reports on assets.
OMW will leverage Eagle to source, validate and store its data in the quantitative reporting template (QRT) formats mandated as part of the Solvency II reporting and disclosure requirements. The solution will help OMW manage its Solvency II obligations across its UK and international businesses.
"Eagle stood out for its ability to help us meet the strict asset reporting requirements set out under Solvency II. The firm's existing infrastructure, local support structure and their solution's ability to manage complex data streams in multiple formats set them apart," said Peter Bryan, financial controller at OMW.
Eagle's managing director and head of EMEA and Asia-Pacific John Legrand said: "The demand for more detailed reporting brings with it more intensive data requirements. Increasingly we are seeing firms need to implement more robust data management solutions as the source for their reporting commitments across different regulatory requirements, and to provide credible audit trails and assurance to its constituents."
