CACEIS completes migration of Crédit Agricole 25 February 2016London Reporter: Becky Butcher
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CACEIS has completed the migration of all Crédit Agricole Assurances portfolios to its new Central European accounting platform.
The operation represents €250 billion in assets administered on behalf of the Crédit Agricole Assurances group and is part of its strategy to align its accounts with international accounting standards.
Crédit Agricole Assurances is the first CACEIS client to move to the new centralised platform.
The migration is the outcome of a project launched 18 months ago, designed to regroup CACEIS’s various local accounting platforms within one single European platform, thereby ensuring consistent processing across all portfolio structures.
CACEIS selected the latest version of NeoXam’s NX GP3 application for its centralised platform.
Grégory Erphelin, CFO of Crédit Agricole Assurances, said: “Grouping our portfolios within a single accounting platform was a major challenge for our group, as we were keen to streamline back-office functions to provide a clear and transparent view of our portfolios at all times.”
Jean-Pierre Michalowski, deputy CEO at CACEIS, added: “The close working relationship with Crédit Agricole Assurances was key to the successful completion of this large-scale project.”
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