The project for introducing the CAD IT Finance Area system into Mediobanca has been successfully concluded

In a 12-month project the joint team of experts from Mediobanca and CAD IT has installed CAD IT’s Finance Area platform into Mediobanca.

Mediobanca has chosen the new version of Finance Area with web 2.0 user interface and entirely on an open platform.

CAD IT has added important functions to its platform, in particular by completing the development of a new integrated package for Middle Office.

The Mediobanca team of experts, together with a team from CAD IT S.p.A. (www.cadit.it), leader in the Italian financial software market and quoted in the STAR segment of Borsa Italiana, in just 12 months have successfully concluded the development and integration of the Finance Area platform at Mediobanca, the largest Italian investment bank.

Mediobanca use the platform to manage investment and retail banking activities on a national and international level. In particular, CAD IT’s Finance Area ensures the complete management of financial brokerage, administration, settlement and accounting as well as notification to the supervisory authorities connected to domestic and foreign financial instruments.

The success of the finalised project in Mediobanca is particularly significant because the new web 2.0 release of Finance Area has been installed entirely on an open platform.

Among the most important innovations of the new release is the Middle Office management module which supports all post trade activities and communication with bank clientele like, for example, the production of confirmation notifications and the receipt of specific multi-channel instructions.

Mediobanca has also chosen CAD IT’s “Caronte” module for market connection. The interfaces of this module have been renewed and, due to its complete integration into Finance Area, guarantees high added value performance and automation.

Giuseppe Dal Cortivo, Chairman and CEO, CAD IT, said: “I’m proud of the fact that an organisation like Mediobanca has chosen CAD IT as its strategic IT partner. We concluded the project within the times agreed installing into Mediobanca a version of Finance Area that is not only new from a functional point of view, but also from a technological one. The team-work carried out with Mediobanca has further increased our know-how and enriched our software solution.”