Venerable, which owns and manages the legacy variable annuity business acquired from Voya Financial, chose to migrate its data management to AC PaSS, the cloud-based managed service solution from Asset Control.
Using ACPaSS will provide Venerable with an adaptable data integration, mastering and distribution platform, which aims to enable the company to more efficiently run its legacy infrastructure and focus its IT efforts on adding value and driving innovation.
Venerable was already using Asset Control’s AC Plus time series management solution to source pricing data, validate and enhance quality via user-defined workflows, and derive curves and surfaces to value its customers’ annuities portfolio. This solution had been running on a public cloud platform, which was monitored and managed by the in-house IT team.
The shift to AC PaSS was implemented in a few months and ran in parallel with production before going live. Venerable has now migrated all its data management processes to AC PaSS, which runs in the Oracle Cloud Infrastructure. Changes to the solution are requested by Venerable through a simple change control process and deliverables are all measured against contracted SLAs.
“We are excited to work with Asset Control in managing our market data on the AC PaSS platform,” Ray DiMarcello of Venerable, said. “Having Asset Control’s experts manage their application on their platform frees us up to pursue value added activity such as integration and analysis. Their team has been responsive and professional, and we were able to cutover production in a few short months with no major issues.”
“Venerable is a strategic customer of Asset Control and we have a close working relationship built on results and a shared vision of partnership. That relationship is further extended by Venerable’s decision to implement AC PaSS. We are constantly working to deliver best-practices and increased performance,” Fabrice Proust, head of account management at Asset Control, said.
Venerable is a privately-held company with business operations based in West Chester, PA, and Des Moines, IA.
Asset Control is in the market for data quality software solutions for financial data.
