With Oracle Public Database Cloud Platform we have significantly reduced costs and time to market, increased agility, and improved the level of services offered through our online investment management application. This enables us to be more competitive in a tightening investment market.
Certinvest is a Romanian financial group active in investment management and private pension funds. It provides integrated financial solutions to over 20,000 customers, and is one of the largest independent asset managers in Romania.
Over the past 10 years, the Romanian asset management environment has evolved significantly. Once solely performed by small, independent Romanian firms that focused on a specific geographical region, bank-owned asset managers have recently emerged with the size, network, and resources to command dominant market positions, bringing asset management into the mainstream. This has led to a highly competitive market that currently services 400,000 investors throughout the country.
Certinvest has retained its competitiveness by continually offering a range of innovative services, such as an online platform with sales and after-sales services that empowers its customers to more easily manage their investments.
We selected Oracle Database Cloud Service and Oracle Storage Cloud Service to run our business-critical investment portfolio management platform due to its flexibility, robustness, security, and elasticity to scale according to our requirements. In addition, the move to cloud has enabled us to significantly lower our IT overhead by 15% to 20%.
Certinvest was founded in 1994 by Eugen Voicu. In 2007 it was bought by British group Aviva, which took ownership from Voicu (30%) and from Fondul Romano-American de Investii (70%). In 2010 Eugen Voicu bought back its majority stake. The company currently manages assets amounting to over US$50 million.
Certinvest engaged Oracle Partner Dorsum to develop its custom Clavis investment application and then optimize it for deployment on the Oracle Public Cloud, with assistance from the Oracle management team.
“The close collaboration between Dorsum, Oracle, and our IT team was crucial for the success of the deployment and for ensuring we had the required functionality for our core business system,” Olariu said.