Leading Back Office Systems for Banks

In-depth Supplier Profiles and User Lists. Subscribe now

In-depth Banking Tech and FinTech Research

Over 300 research reports that's updated quarterly. Subscribe now

RPA in Banking: Strategies and Pitfalls

Insights on RPA Suppliers and Case Studies. Subscribe now

Storebrand Asset Management consolidates SimCorp tech

Storebrand Asset Management, Norway’s largest private asset manager, has completed a “strategic consolidation project” with SimCorp’s front office and fund management solutions.

The new solutions integrate with Storebrand Asset Management’s existing use of SimCorp Dimension in the middle and back office, to provide a” holistic, single system approach” across the firm. According to the vendor, the newly implemented front office solutions enable Storebrand Asset Management to automate and standardize investment processes front to back.

In 2016, following a successful period of growth, Storebrand Asset Management identified the need for a unified, operational infrastructure, selecting SimCorp Dimension as its core engine. Within the front office, Storebrand’s fixed income, currency and equities teams are now live on SimCorp Dimension, running both active and passive investments across the entire range of financial instruments.

SimCorp’s front office solution replaces a “large number of diverse, fragmented front office systems, custom built applications, excel models and manual processes that have accumulated over the years.

Erik Kaland, COO of Storebrand Asset Management, said: “In a relatively short period of time, SimCorp has helped to completely transform our front office and fund platforms, successfully replacing our legacy systems with a far superior and automated platform, across front to back. With a more standardized configuration and centralised architecture, we have not only significantly reduced operational risk and cost of ownership, but equally important, positioned ourselves strongly, as we continue to seek new market and growth opportunities.”

Klaus Holse, CEO of SimCorp, added: “Storebrand Asset Management is a prime example of the challenge faced by many buy side firms, where historical reliance on best-of-breed and legacy technology stand in the way of future business growth. Having realised the operational and strategic benefits of a consolidated model, Storebrand has demonstrated how to take effective action and break away from the status quo of ineffective technology. The achievements they have gained across the investment value chain provide a strong competitive advantage and make Storebrand Asset Management a well-deserved winner of the SimCorp Award 2018.”

Related Posts