June 4, 2020
Press Release
SimCorp, a leading provider of integrated, front-to-back, multi-asset investment management solutions and services to the world’s largest buy-side institutions, today announces the successful go-live of several clients worldwide, completed with SimCorp’s full remote implementation delivery during the Covid-19 lockdown. The success of SimCorp’s full remote delivery model has continued to empower its clients, bringing them into production on time, regardless of geography and robustly supporting them with business continuity in already challenging conditions.
Supported by the 100% remote working capabilities of SimCorp’s own employees during this period, the full remote delivery model has been smoothly adapted and enhanced with additional capabilities, during the Covid-19 lockdown. Together with the tactical use of cloud collaboration tools, daily reporting and milestone tracking, SimCorp’s full remote delivery model has ensured operational resilience for clients, successfully completing several existing client implementations remotely. This includes a SimCorp Gain upgrade, for the Investment Management function of Zurich Insurance Company Ltd. It has also been used to start a number of new client implementations including Anima SGR, the largest independent asset management group in Italy.
Other examples of completed client implementations during the pandemic, include:
- Derivatives processing at US capital markets firm
- FX and futures trading at US state retirement plan
- EOP accounting activities for Central European insurer
- IFRS - harmonization of data and financial assets for large insurer across 10 countries
- SFTR cloud solution for European pension fund implemented within 20 days
- Multi-feed data management solution for security data and pricing for large Nordic pension fund
- Automating processing of new derivative products for Sovereign Wealth Fund
- Cash reconciliation at Nordic insurance company
- BI and Data Warehouse solution for Swiss Asset Manager
Launched a few years ago, SimCorp’s remote delivery model was created to bring clients further optionality in the implementation process. It forms part of the global implementation model and continues its established 100% success rate in the industry. Previously used as a hybrid approach, it delivers clients a combination of on and off-site implementation support. It also offers the additional benefit of reduced cost, while creating a positive impact on carbon footprint, with reduced air travel. It has now been adopted as the sole model of delivery with great success, particularly among clients with geographically distributed sites and workforce.
Client reflections from across the globe on SimCorp’s full remote delivery have been positive, with many observing the ease and flexibility it has brought, as they adapt to a new operating environment.
“Feels like business as usual. No particular extra measures have really been needed in this phase of the project.”
“We are enjoying a spike in productivity with everyone working from home and not commuting.”
“Cameras on is common place and though there is vast physical distance, we seem to be working more closely than we have before.”
Christian Kromann, Chief Operating Officer at SimCorp comments: “We are pleased to be able to bring several clients across the world, into production on time, during this unprecedented time. With a dual priority to both our clients and employees safety and well-being, we have committed to making the transition to remote-working, without disruption to our service levels. Our full remote delivery model, together with the successful launch of our quarterly software release, demonstrates this success and are a result of the continued investment SimCorp has made in both its technology and processes. It is also testament to the strong client partnerships that our employees have nurtured and continue to do so, across a 300-strong global client base, to flexibly support their business outcomes and growth.”
-Ends-
* SimCorp Gain upgrade to v 5.18, for Zurich Insurance Company Ltd
Enquiries regarding this announcement should be addressed to:
Mittal Shah, SimCorp PR UK/North America /Asia Pacific +001 (646) 843 1707 mittal.shah@simcorp.com
About SimCorp
SimCorp provides integrated, best-in-class investment management solutions to the world’s leading asset managers, fund managers, asset servicers, pension and insurance funds, wealth managers, central banks, sovereign wealth funds, and treasury. Regardless of how you deploy it, SimCorp’s core solution, SimCorp Dimension®, and its life-cycle services support the entire investment value chain and range of instruments, all based on a market-leading IBOR. SimCorp invests around 20% of its annual revenue in R&D, helping clients develop their business and stay ahead of ever-changing industry demands. Listed on Nasdaq Copenhagen, SimCorp is a global company, regionally covering all of Europe, North America, and Asia Pacific. For more information, please visit www.simcorp.com.