As part of the implementation roadmap, SimCorp Dimension will provide KAS BANK with a highly automated and comprehensive solution for its investment administration and custody services to global institutional investors. The agreement also enables KAS BANK’s investment administration clients to gain access to SimCorp Dimension’s front and middle office functionality in their own environment.
With SimCorp Dimension at the core of its operations, KAS BANK will optimize and automate back-office processes to enable scale, while significantly reducing cost. At the same time, KAS BANK will benefit from SimCorp’s committed ongoing R&D to ensure its services remain at the forefront of industry standards and regulatory best practice. Pursuing a single platform approach, KAS BANK will – as one of the first SimCorp clients globally – also utilize SimCorp Dimension as an integrated solution for custody services.
A key role of SimCorp Dimension will be the sourcing and management of investment data from KAS BANK’s clients within the integrated back-office engine, delivering KAS BANK a golden source of data for its investment administration and reporting. With management and processing of customer and market data, management of corporate actions, and other key back-office functions all taking place in one central location, KAS BANK is equipped with an efficient and reliable solution for scaling its administration services business.
KAS BANK will also deploy SimCorp Coric’s full Client Communications suite for its global client communications. This includes SimCorp Coric’s Web Reporter, a self-service online reporting portal delivering KAS BANK’s clients up-to-date information and on-demand access to analytics and data visualization tools. The move to SimCorp Coric overhauls existing systems across customer reporting services, to further automate reporting and enhance the bank’s digital capabilities.
Sikko van Katwijk, Chairman of the Managing Board at KAS BANK comments: “The cooperation with SimCorp is an important step in the transformation of our organization into a global administration and custodial bank. As we continue to deal with increasing demand in the market for our services, this agreement offers us a distinct opportunity to expand our data-driven services and increase client satisfaction, as part of our four strategic priorities.”
Klaus Holse, CEO of SimCorp comments: “We are pleased to extend the partnership with KAS BANK and to have a key stake in the realization of their strategy. While we advocate for the consolidation of investment management in-house, the collaboration with KAS BANK acknowledges that there are firms whose business model, for various reasons, cannot support back-office functions in-house. With this agreement, these firms are now able to secure efficient outsourced investment handling based on best practice.”
The first outsourcing clients are expected to be connected to KAS BANK’s renewed investment and administration platform in 2019.
Enquiries regarding this announcement should be addressed to:
Mittal Shah, SimCorp UK/North America +00 44 207 397 8072 [email protected]
Anders Crillesen, SimCorp Corporate Communications, +45 3544 6474 [email protected]
Michiel Noteborn, KAS BANK Head of IT Demand, +31 20 557 2763 [email protected]
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 and sovereign wealth funds. Whether deployed on premise or as an ASP solution, its core system, SimCorp Dimension, supports the entire investment value chain and range of instruments, all based on a market-leading IBOR. SimCorp invests more than 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
About KAS BANK
KAS BANK is a European specialist for safekeeping and administration of securities and high-quality risk- and reporting services. We focus on securities services for professional investors in the pensions and securities market. Our strategy and services are based on clear principles about the role custodians should perform in the financial markets. Integrity, transparency and independence are important values for our bank, as well as a low risk profile. KAS BANK is located in the Netherlands, the United Kingdom and Germany. We offer access to more than 90 markets worldwide. KAS BANK is listed on Euronext Amsterdam. For more information, please visit www.kasbank.com