As part of the Group-wide agreement, LCL will launch its first MDM project to manage finance and accounting master data.
BOSTON, MA and PARIS, France – May 24, 2012 – Orchestra Networks™, Master Data Management software vendor, today announced that Crédit Agricole S.A. Group selected its EBX5 solution to manage its master data.
Orchestra Networks is one of the leading software vendors in multidomain Master Data Management (MDM). Its EBX5 software allows companies to model, manage and govern all of their reference and master data, across various business functions.
EBX5 has been in use by Crédit Agricole Insurance since 2007.
In 2011, LCL, a subsidiary of Crédit Agricole S.A. Group, launched a project for modernizing the management of its finance and accounting master data. The bank was looking for a solution that would provide enough flexibility to model a wide range of financial hierarchies and deliver an easy-to-use user interface with collaborative features to their business users.
The choice to use EBX5 was made mainly because of its multidomain approach, the richness of its data governance features, and the large number of banking references for Corporate Master Data Management projects such as finance, risk and human resources.
To accommodate LCL, Crédit Agricole S.A. Group signed a Group-wide agreement with Orchestra Networks, which will enable deployment of EBX5 MDM software to any subsidiary and master data domain. As part of the agreement, Orchestra Networks will create an MDM best practices guidebook that will accelerate future projects and ensure consistency across MDM initiatives throughout the Group.
“We are proud to have Crédit Agricole S.A. Group as a customer. The first initative launched by LCL demonstrates how MDM evolves at large companies: by providing business users with full control of their master data, in an intuitive and highly collaborative solution,” says Christophe Barriolade, CEO of Orchestra Networks.
About Crédit Agricole Group
The Crédit Agricole Group is market leader in customer centric universal banking in France and one of the largest banks in Europe. With operations in 70 countries, the Crédit Agricole Group is a leading partner in supporting clients with their projects in all areas of retail banking and associated specialised business lines: day-to-day banking, savings, home and consumer loans, insurance, private banking, asset management, leasing and factoring, and corporate and investment banking.
On the strength of its cooperative and mutualist foundations, the Crédit Agricole Group’s expansion is underpinned by balanced growth serving the real economy and respecting the interests of its 54 million clients, 1.2 million shareholders, 6.1 million cooperative shareholders and of its 160,000 employees.
About Orchestra Networks
Orchestra Networks, a pure-play, independent MDM software provider, was founded in 2000. With operations in North America and EMEA, Orchestra Networks has successfully addressed the MDM needs of their Global 1000 customers in multiple industries, including: Financial Services, Banking, Insurance, Manufacturing, Retail, Consumer Goods, Technology, Pharmaceuticals, Public Utilities and Global Logistics.
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