Erste Abwicklungsanstalt (EAA) is a public law entity with partial legal capacity operating within the German Federal Agency for Financial Market Stabilisation (FMSA) Its task is to wind up the approximately €185 billion of assets and risk positions acquired from WestLB AG – trading as Portigon AG since 1 July 2012 – in such a manner as to salvage as much of their value as possible.
In successive steps, EAA is taking control of all the relevant documents relating to the portfolio that is to be wound up. A large number of business-relevant files and documents need to be made accessible to employees of EAA and Portigon AG in one central location.
The solution had to be able to handle a number of particular challenges:
To meet these requirements, adesso proposed a fixed-price, customised solution based on Microsoft SharePoint Server. A detailed specification phase was conducted jointly with the customer. This was followed by the development of a detailed concept after which adesso implemented the system.
The system brings many benefits to EAA:
Audit-compliant archiving means that decisions and actions are documented and tracked automatically. This improves business management, risk management and compliance with regulatory requirements.
Following the successful development phase and the installation of the system at EAA, a first tranche comprising around 18,000 documents selected from the most important credit and securities files were migrated to the system. After this initial migration, an ongoing operation is now in progress to transfer the remaining files and documents from the various business areas.
In light of the successful implementation of the project, Microsoft published the solution provided by adesso as a case study within its Business-Critical SharePoint Program. adesso was one of 80 Microsoft partners across the world that joined the Business-Critical SharePoint Program.