The new connectivity provides mutual clients globally with enhanced operational efficiency and transparency in core investment processes, more efficient enterprise risk management, and increased speed to market for on-boarding.
BNY Mellon and SimCorp will pursue a shared roadmap to deliver an open and integrated operating model, with enhanced custody information and improved operational efficiencies. Clients of both BNY Mellon and SimCorp will benefit from streamlined system-to-system data flows and optimized data sets across the investment lifecycle, which can be easily leveraged for greater visibility into transactions and positions.
The partnership aims to accelerate the optimization of typically manual investment workflows, such as settlement management, which continue to burden investment managers and asset owners. By delivering enhanced automation, the solution will lead to higher reconciliation match rates. This allows portfolio managers, operations teams and risk professionals across the buy-side to gain sharpened insights into the deployment of cash and securities. Additionally, increased transparency and faster availability of corporate actions and tax reclaim data will drive more informed investment decision-making.
“Our collaboration with SimCorp offers significant opportunities for clients around the globe to improve their performance through enhanced data flows and to eliminate inefficiencies,” said Daron Pearce, CEO of EMEA Asset Servicing at BNY Mellon. “It further demonstrates BNY Mellon’s open and cooperative approach to navigating the digital future of the investment industry, working alongside clients and together with other service providers to develop flexible, insightful and effective solutions.”
“Integrating BNY Mellon’s data with SimCorp Dimension enhances the timeliness and accuracy of information and operational efficiency available to clients, ultimately strengthening decision making and optimizing strategic agility,” said Johan Rosengreen-Kringel, Senior Vice President, Strategy & Corporate Development at SimCorp. “We firmly believe that this flexibility, combined with our highly automated front-to-back investment lifecycle and open integration with service providers will greatly benefit clients.”
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, banks and sovereign wealth funds. 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.
About BNY Mellon
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35 countries. As of Sept. 30, 2019, BNY Mellon had $35.8 trillion in assets under custody and/or administration, and $1.9 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com. Follow us on Twitter @BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for the latest company news.
Enquiries regarding this announcement should be addressed to:
Mittal Shah, SimCorp PR UK/North America /Asia +44 207 397 8072 [email protected]
Anders Crillesen, SimCorp Corporate Communications +45 3544 0000 [email protected]
BNY MellonBruce Wraight , BNY Mellon, +44 (0) 20 7163 4716 [email protected]