SimCorp and Colonial First State extend partnership to support growth and agility

Global leader in integrated investment management solutions, SimCorp, and one of Australia’s leading retail superannuation and investments platforms, Colonial First State (CFS), have announced today they are extending their partnership with additional new investment accounting capabilities. It comes as CFS upgrades its technology to better service its customers and advisers.

Under the partnership, CFS will have access to SimCorp’s Software as a Service (SaaS) and its cloud-based Datacare data management service, enabling it to simplify existing processes, and remove manual checking and duplication to significantly reduce operational costs and improve efficiency.

CFS’ decision to migrate its core platform and data management infrastructure to Datacare - a cloud-based scalable data management service for investment reference and market data - will also reduce the growing business risk associated with an increasingly complex environment for investment data. SimCorp’s automated audit trails will also improve CFS’ operational controls, resulting in reduced technology risk.

Access to richer investment data will also benefits CFS’s network of advisors and their clients, while supporting delivery of the expanding scope of regulatory reporting.

The new cloud-based platform will enable CFS to focus on investment analytics and harness insights that can be shared with advisers and their clients, helping to bring to life how customer money is invested while enabling advisers to differentiate their service in the market.

Oliver Johnson, Managing Director, SimCorp Asia Pacific, comments:
“As the industry is fast becoming more complex and competitive, partnering with specialist technology providers such as SimCorp  empowers investment managers and asset owners to stay focused on their business. We are delighted that Colonial First State has turned to SimCorp to secure an infrastructure that is future-proof.

“We believe critical to our comprehensive partnership and future are SimCorp’s expertise to deliver scalability, the quality of our managed services offering, and the continuous feedback loop we get from the larger SimCorp community to power innovation and further growth.”

Andrew Morgan, Chief Financial Officer, Colonial First State, said: “Our partnership with SimCorp has gone from strength to strength. Re-platforming our Funds Services business gives us the opportunity to halve the time it takes to invest our customers’ funds. When a customer wants to change their investment choice, we will make the change more efficiently, ensuring there is no time when clients’ funds are out of the market.

“This partnership is a significant support to CFS’s goals to simplify our systems, and ensure long-term growth while delivering a better experience to our customers and advisers.”



Enquiries regarding this announcement should be addressed to:

Media Contacts:
SimCorp: Alex McNab-Lundbäck – +4521314487 – alex.mcnab-lundbaeck@simcorp.com

 

About SimCorp

SimCorp provides integrated, best-in-class, multi-asset investment management solutions to the world’s leading institutional investors including asset managers, asset owners, pension funds, insurers, and corporate treasurers. SimCorp’s core solution, SimCorp Dimension®, alongside SimCorp Coric®, SimCorp Gain™, and SimCorp Sofia™ form a powerful and complete solution, that together with a range of managed services, supports the entire investment life cycle.

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, with regional offices across EMEA, North America, and Asia Pacific. For more information, please visit www.simcorp.com.

 

About Colonial First State

Colonial First State (CFS) is Superannuation and Investments HoldCo Pty Limited ABN 64 644 660 882 and its subsidiaries which include Colonial First State Investments Limited ABN 98 002 348 352, AFSL 232468 (CFSIL) and Avanteos Investments Limited ABN 20 096 259 979, AFSL 245531 (AIL). CFS is majority owned by an affiliate of Kohlberg Kravis Roberts & Co. L.P. (KKR), with the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945 (CBA) holding a significant minority interest.