Tapiola Bank live with Modelity/Structures to upgrade its structured products transparency

Modelity Technologies Ltd., a leading provider of financial modeling technology, announced the successful implementation of Modelity/Structures in Tapiola Bank. Modelity/Structures is being used to provide the bank’s clients and prospective clients with analysis reports on the launch of new products, and ongoing performance and status reporting for the bank’s live structured products.

“At Tapiola Bank, we believe in our products, and we believe in transparency. We want to ensure that our clients and prospects completely understand the products that they are being asked to buy into. We feel that service must not just be at the point of sale, we want our clients to be kept fully informed of the detailed performance of their structured products.” said Ilkka Pihlaja, Head of Structured Products at Tapiola Bank. “Modelity/Structures is highly valuable for us, as we insist that our clients have an upgraded service in order to feel comfortable with the kind of complex products that are needed in today’s turbulent markets. We have been very impressed with both the speed of Modelity’s implementation and also the flexibility within Modelity/Structures, which has enabled the service to be customized to meet our requirements and standards.”

Asaf Seri, COO of Modelity Technologies Ltd., said “We are very proud to be working with an innovative and forward-looking institution like Tapiola Bank. We are now positioned to continue expanding in both Finland and the Nordic region as a whole. It was a challenge to design a reporting process that changes format periodically to reflect the products’ various stages in their life-cycles. For example, for Asian in and out products the reports were designed to look completely different during their striking period, post-striking period, final valuation period and at maturity.”

About Tapiola Bank Ltd.

Tapiola Bank Ltd is a modern bank serving mainly private persons online, by phone or at offices throughout Finland. The bank does not offer traditional over-the-counter banking services. In addition, the bank offers personal advisory service to customers by appointment with regard to both loans and investments.

Tapiola Bank is owned by the mutual companies of the Tapiola Group, thus also owned by the policyholders.

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