StatPro Group, a provider of portfolio analytics, market data and asset pricing solutions for the asset management industry, has extended its deal with Bank of Montreal to use several of its portfolio management solutions. The four-year deal extends the original 2002 non-hosted contract. The new system has already gone live with Bank of Montreal.
The solutions will be delivered as a suite of hosted services. They include StatPro Performance and Attribution, StatPro Index Services and StatPro’s interactive reporting tool on the SaaS platform.
Mark Bramley, CEO of North America at StatPro, said: “Bank of Montreal has subscribed to a combination of our analytics services on our new SaaS platform together with our index services and they join our growing band of SaaS customers in Northern America. We expect many more to follow.
“We are constantly investing to improve and enhance our data and analytics offerings. The fact that these are now available via our SaaS platform makes it very attractive to a wider audience of global customers, especially in the current market as it reduces the total cost of implementation and ownership.”
Chris McHaney, manager of investments at Bank of Montreal Asset Management, said: “The deal involved continuing the service we receive from StatPro, while at the same time adding the ability to automate more of our processes internally, and in turn getting the most out of the system.”
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