SimCorp Dimension investment platform kicks in at KAS Bank
KAS Bank, a Netherlands-based securities administration company, has selected SimCorp Dimension as its new investment platform.
As part of the implementation roadmap, the bank will get a solution for its investment administration and custody services. Its clients will also gain access to SimCorp Dimension’s front and middle office functionality in their own environment.
Sikko van Katwijk, chairman of the managing board at KAS Bank, says the deal is an “important step in the transformation of our organisation into a global administration and custodial bank” and gives it a “distinct opportunity to expand our data-driven services”.
Klaus Holse, CEO of SimCorp, adds: “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.”
A “key role” of SimCorp Dimension will be the sourcing and management of investment data from the bank’s clients within the integrated back-office engine.
The bank will also deploy SimCorp Coric’s Client Communications suite. This includes SimCorp Coric’s Web Reporter, a self-service online reporting portal for information and access to analytics and data visualisation tools.
The move to SimCorp Coric overhauls existing systems across customer reporting services, to further automate reporting and “enhance the bank’s digital capabilities”.
The first outsourcing clients are expected to be connected to KAS Bank’s renewed platform in 2019.