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May 22, 2023

SimCorp widens footprint in the US with SaaS client agreement with the Investment Management Affiliate of an American Life Insurance Company

SimCorp announces the finalization of a significant new SaaS (Software as a Service) client agreement with an investment management company affiliate of an American life insurance company for SimCorp’s investment management platform.

The deal combines the SimCorp platform with a range of managed services, including Data Management Services, Investment Operations Services (IOS) and Investment Accounting Services (IAS). 

SimCorp’s consolidated investment management platform and its ability to combine real-time data management and analytic capabilities with business support services across the enterprise into a single front-to-back workflow was a key driver in securing the agreement with the client. 

“We are pleased to continue our positive momentum in North America and welcome a new significant client onto the SimCorp platform with the integration of our cloud-enabled investment management services,” says John Needham, Managing Director of SimCorp in North America. 

The new client has licensed a comprehensive Investment Book of Record (IBOR) for its entire suite of asset classes, which includes various public fixed income strategies, OTC derivatives, private debt, commercial mortgage loans and other alternative assets.

In addition to the core IBOR platform, SimCorp’s Reconciliation service will enable the client to have a solid overview of both positions and cash before the market opens for every trading day. Data Management Services will further enable the client to optimize its data architecture by reducing inefficiencies and increase Straight-Through Processing into its core ecosystem. 

The client agreement is a further testament to SimCorp’s competitive value proposition for the North American market and marks an important milestone with the new client being the first in North America to utilize SimCorp Investment Accounting Services. 

The comprehensive Accounting Service enables insurers and other asset owners to receive a full set of period financials across numerous global accounting regimes, including US GAAP, IFRS and US STAT. 

"This agreement is a continued realization of SimCorp's growing footprint in North America and support of our clients' growth aspirations with the strongest investment management platform in the industry that is enhanced by an increasing array of tech-enabled services,” Needham says. 

About SimCorp

SimCorp offers industry-leading, integrated investment management solutions. 

Our platform and ecosystem, comprising partners, services, and third-party connectivity empowers us to provide 40% of the world’s top 100 financial companies with the efficiency and flexibility needed to succeed. 

With over 25 offices around the world, and more than 2,200 employees, we are a truly global, collaborative team that connects every continent and industry seamlessly. 

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Media Contact:

Søren Rathlou Top, Global PR & Communications Manager at SimCorp
+ 45 31 15 87 06
[email protected]

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